Sir
A person invested amount in Mutual Fund of Rs. 4,00,000/- at one time and Rs. 2000/- in every month in F.Y. 2017-18. . So my question is will it be assessed for income tax return for A.y. 2018-19 or how it will be calculated, Plz tell us in brief.
In case he invested in ELSS fund then the same will be eligible for deduction u/s 80c. Now coming to the taxability matter, tax liabity will rise only when the person redeems his mutual fund.
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
View Details
Synergy Keystone
Mumbai
CA
View Details
CCI
Pro
CAclubindia
