Mutual funds and shares investment

This discussion clarifies how to declare investments in mutual funds and shares for Income Tax Return (ITR) purposes, specifically for ITR-2. Generally, investments only need to be reported if there's a profit or loss from selling them. The Automatic Information System (AIS) and Taxpayer Information Summary (TIS) will already contain details of your transactions. You might need to file ITR-2 if you have salary income over 50 lakhs or own more than one property, otherwise, ITR-1 may suffice.