Suppose a mutual fund cost value 10000 is sold for rs15000 market value,so gains from mf redemption is 5000. My question is
What should be the ledger name for entering 5000 rs entry in tally?
Under which group/head is such ledger created in tally so that correct entry is passed.
I want to create a new ledger to record such profit/gains from sale of mg investment
Thanks in advance
Regards
Dr dilip khambete
Many thanks
Just a small query .....In many articles the heading is capital a/c for such ledger instead of ' indirect income'. So I got a bit confused, so if you can just elaborate if possible please
, many thanks once again
Regards
Dr dilip khambete
iNDIRECT INCOME IS A CLASSIFICATION. I WOULD ADVISE USE INESTMENT HEAD+ NAME OF MUTUAL FUND
No it was not.
I was advising just on creating a ledger in Tally.
Ok ,,👍 thanks
will do accordingly
I have been filling itr4 every year for my clinic income.
This year I have redemption of Mutual funds with capital gains to me .So I will have to pay capital gain tax most likely. As per my observation there is no provision of recording income from mf gains and also to calculate taxable mf gain. It is given in itr2 and itr 3.
Please guide me which itr should I fill this year.
Thanks
Regards
Dr dilip khambete
CAclubindia
