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Investment in mutual fund
Kindly suggest Accounting and tax treatment of investing in mutual fund and documents required to give effect to entries
Replies (2)
Income from Mutual Fund is completely exempt from income tax us 10(34) and a few tax benefit mutual fund investment is there and these are basically for the individuals and HUF. For the purpose of the accounting entries you can treat as an short term Investment if lock in periods are more than 1 years.
which code is there for mutual fund while entering and filing itr
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