hi, I was having a tax-relief mutual fund which got matured and due to that money got credited in my savings bank account. As this was a tax relief mutual fund. I am not supposed to pay any taxes on return. but, do I need to mention it in ITR-2 and if yes, then where.
3 Replies
subhash kumar jha
(PROFESSION)
(445 Points)
Replied 12 June 2014
If this mutual fund is equity oriented fund (65 % of investment has been made in equity) and transaction is subject to STT then it will be covered under section 10(38) and transfer of this will be exempted.
In ITR it needs to be shown in EI sheet point 3.
abhishek sharma
(se)
(128 Points)
Replied 12 June 2014
hi Subhash, I was having two mutual funds
1) birla sun life tax relief 96 - dividend
2) sbi magnum tax gain growth
are you aware that these are equity oriented or not?
abhishek sharma
(se)
(128 Points)
Replied 12 June 2014
i have checked on smartinvestor.in, both mutual funds have 99% equity, so these can come under section 10(38). but what is STT?
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