Dear Sir,
please suggest for below
1. I have invested Rs. 2 Lacs in Mutual funds ( approximately 20 thousand per month SIP + lumpsum) and Rs. 2 Lacs in stock ( fifty thousand per month last 4 month) it can be treated high value Transcation ?
Can I face any query notice from IT department
2. In ITR 1 Or ITR 2 where I can show Rs.
4 Lacs above investment.
3. Can we adjust Stocks loss with Mutual funds profits
Please suggest
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Investment High value Transcation
Replies (3)
You are salaried person right?
1) Source fund for all these investment from your salary earning. There is no issue. You have a proof of funds. You don't need to worry about it.
2) Your Investment through SIP in mutual funds, is it comee under ELSS 3yrs locking scheme. You can avail income tax deduct otherwise, when you earn profit from it. You should declare in that financial year. Until then, you have no option declare these details in ITR.
3) Income earned from Investment like shares, property declare in ITR 2.
What is your gross total income???
1. Not an high value transaction, so least chances of receiving notice.
2. No option to show such investment.
3. Yes you can if they are of same nature.
2. No option to show such investment.
3. Yes you can if they are of same nature.
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