ITD- Mutual fund

Sir,

please suggest a person invested Rs. 3 Lacs in Mutual fund and stocks also. can he face notice from IT department.
someone told if any body invest more then Rs. 2 Lacs fifty thousand he she face notice from IT department

please suggest it's any myth or reality
Replies (5)
Quick Summary
This discussion addresses concerns about receiving notices from the IT Department for investing over ₹2.5 Lakhs in mutual funds and stocks. It clarifies that while mutual funds are taxable instruments, simply investing this amount doesn't automatically trigger a notice. The consensus is that filing your Income Tax Return (ITR) is crucial, especially if you've made such investments, even if it's a nil return. If you've consistently filed your ITR and declared all income sources, you're unlikely to face issues.

Thats a puutable instrument and prone to cgt

Yes. It's better to file ITR either nil return or ITR with nil tax if there is investment
I am continuously filed ITR from Since 2020. so any issue will be arise
Then there won't be any issues if all sources of income was declared in ITR
Thank you very much Eswar Reddy Sir,

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