Income From Mutual Fund Sale for Govt. Employee AIS

Hello Everyone,

I have a query related to my friend ITR. He is a Govt employee and his Salary in F.Y 20-21 is around 12 Lac. But when I visited to his profile and see the AIS.I found that he is also investing in Mutual funds and his mutual fund sale is 1.5 Lac and mutual fund purchase is 1.3 Lac. right now, What ITR should I have to file? If I am trying to file ITR-1 Can I show the STCG amount in "Income from Other Source" or If am file the ITR-2 but the Income is not more than 50 Lac ?

Replies (2)
Quick Summary
This discussion clarifies the correct Income Tax Return (ITR) form for a government employee who has realised capital gains from mutual fund sales. While ITR-1 might seem simpler, the presence of capital gains necessitates filing ITR-2. The specific type of capital gain (Short-Term Capital Gain or Long-Term Capital Gain) depends on the holding period and the nature of the mutual fund (equity, debt, or hybrid).

STCG or LTCG - based on period of holding and type of fund i.e. Debt, Equity or Hybrid.

 

You have to file ITR 2

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared

Getmyca Consultant Pvt Ltd

New Delhi

CA Inter

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details
Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
ARTICLESHIP 24 August 2026
Article Assistant

M/s.S.G.Salecha & Co.

Mumbai

CA Inter

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details