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Long term capital gain from mfs

Tax queries 248 views 4 replies

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?

Replies (4)

Non indexed net gains

Thank you Dhirajlal-ji.

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.

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, 


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