Debt Mutual Fund (STCG - Item Nos. in ITR-2)

You have to mention in capital gain account column CG in Itr-2

Dear Pankaj sir,

I want your help in respective schedule because this is STCG for Debt Mutual Fund and the tax is calculated on the total income as it will be lumped up with the total income.

Kindly let me know the column nos. in the respective schedule because this STCG should not be confused with STCG Equity and must be treated as STCG Others.

Jyotika

UNDER SCHEDULE CG (pf-3) of ITR2

1) A-2 and D-4

Thanks Pankaj sir,

I also need to mention this as total in A-4 also?

Also, kindly clarify whether my thinking of including the the income of STCG on Debt Mutual Fund lumping to the total income and taxed as per slabs is correct or not.

Kindly clarify.

Jyotika

Yes you are right STCG include in your income and calculate tax on it as per it slab rates.

I mean STCG from Debt Mutual Fund comes is treated as Short term capital gain other than referred to in section 111A. Please confirm.

Jyotika

Pankaj Sir,

Can I mention this amount in A6 (Short term capital gain other than referred to in section 111A)? Kindly Reply.

Sorry if I am asking too many queries. I want to be sure before doing this for my client.

Kindly Reply.

Jyotika

Yes debt mutal fund gain treat as short term capital gain.

STCG of Debt Mutual Fund should be kept in A5 or A6?

Jyotika

I am not sure but I think in A4

yes ....

Dear Pankaj Sir,

I read in one of the posting that STCG of DEBT Mutual Fund will not come under section 111A. Only Equity products come under Section 111A.

May I kindly request you to check at your end and confirm to me. I am slightly confused. Please help me in confirming the same.

Jyotika 

Please refer this link https://www.rediff.com/money/2005/jan/31perfin.htm