Loss n reliance gld fund

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I invested in rweliance gl Fund fr 5 years SIP that ended in Januray 2017. Due to low rates of Gold i got redemptin in May which resulted in lss of 12000 Rs

Will this be terated as entry for FY2016-2017 or FY 2017-2018?

How loss of gold fun is tearetd.I could not see any place in ITR 2 for such entries.

 

Kindly advise

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On 15 June 2017 at 19:44 Report
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SEO Sai Gr. Hosp.
121380 Points Posted on 15 June 2017

May 2017.........relates to FY 2017-18 & AY 2018-19.......

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On 15 June 2017 at 19:51
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72 Points Posted on 15 June 2017
It is long term capital loss. Show it in schedule capital gain
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On 15 June 2017 at 21:35
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INCOME TAX OFFICER
911 Points Posted on 15 June 2017
I think the assessee would have claimed deduction u.s. 80c in respect of the investment made in mutual fund. so the loss cannot be claimed. correct me if I am wrong
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On 15 June 2017 at 21:53
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Job
1103 Points Posted on 15 June 2017
80C deduction is not available for gold fund. Only equity oriented ELSS funds are eligible for 80C defuction
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On 15 June 2017 at 22:03
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Guest

Posted on 16 June 2017

Gold fund is as per reliance offcie is debt fund so he said you can deduct loss form your FD interest income .Is that appropriate?

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On 16 June 2017 at 13:36
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Job
1103 Points Posted on 16 June 2017
As stated in one of the earlier reply that your loss is long term capital loss. as per income tax law, long term capital loss can be set off with long term capital gain only. Since FD interest will be taxed under the head Income from other sources so the said loss cannot be set off with the FD interest income.
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On 16 June 2017 at 14:13

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