income from mutual fund
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
Replies (1)
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.
Recent Topics :
- Bill-to-ship-to material at client site, project c
- Export previously now to be considered domestic sa
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
Related Topics :
CAclubindia
