whether investment in "Sip" of Equity fund of mutual funds should be shown in income tax return.
If yes, Then where should be shown in ITR
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Investment in SIP
Replies (3)
Quick Summary
See, if the separate sets of books of accounts are maintained, then the investments to be shown on the balance sheet side. Otherwise, no income shall be booked unless the funds are liquidated.
Whether it should be shown in 80c for deduction
If those mutual funds are issued under Equity Linked Saving Schemes, then yes.. you can claim section 80C deduction. Further, for your information, the document pertains to your mutual fund states whether those funds are eligible for section 80C deductions or not.
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