If I sold any Equity MFs after more than 1 year, then which amount should we mention in Exempt column of ITR?
Is it indexed value of non-indexed value?
Vunu
(Developer)
(135 Points)
Replied 04 April 2018
Dhirajlal-ji, Which ITR should be used? Is ITR1 OK?
Following are the Income Sources
- House Rent
- FD/Savings Interest
- LTCG from Equity MFs (STT Paid). Is this Exempt Income and under which section?
- LTCG from Equity MFs (STT Not Paid) Is this Exempt Income and under which section?
- STCG from Equity MFs (STT Not Paid) This will go in which head?
Please revert soon.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160342 Points)
Replied 04 April 2018
1. ITR 2
2. LTCG from Equity MFs (STT Paid). Is this Exempt Income and under which section?
Yes, as per section 10(38) of IT act
3. LTCG from Equity MFs (STT Not Paid) Is this Exempt Income and under which section?
Not exempted. Assessed under Capital Gain
4. STCG from Equity MFs (STT Not Paid) This will go in which head?
Here, STT is deducted & paid by fund house....... subjected to ST Capital Gain tax @ 15% u/s. 111A of the I-T Act,
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
CAclubindia
