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income from mutual fund


AJAY KUMAR (ACCOUNTANT)     23 April 2019

AJAY KUMAR
ACCOUNTANT 
 1 likes  43 points

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I invested Rs 5crore in UTI mutual fund in Jan 18. In March 29 I requested to my fund manager for cancellation. my request for cancellation is accepted by UTI on 29 march 2019 and fund is released in my account in 2nd April 2019.now my question is 1) in which year income is recognized and 2 ) income is long term or short term

avater

Dimple Ganguli (Professional)     23 April 2019

Dimple Ganguli
Professional 
 38 likes  242 points

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It seems redemption and not cancellation. Under which scheme the amount was invested?

If any equity scheme, it would be long term; otherwise short term.


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