Redemption of 80c investment - mf

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Auditor
112 Points Posted on 28 December 2012

This this, I have redeemed my 80C investment (Mutual funds - ELSS) lock in period was 3 years.

Please clarify how to treat the same.

 

1) Amount invested in January, 2007 - Rs. 15,000. In HDFC Long term advantage funds. Amount recd on  redemption in October, 2012 - Rs. 21000

2) Amount invested in January, 2006 - Rs. 25000, in SBI Tax Gainer Scheme. Amount recd on redemption in October, 2012 - Rs. 14000. I had also recd dividend every year approx Rs. 3000.

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On 28 December 2012 at 18:16 Report
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Team Lead
7558 Points Posted on 28 December 2012

Redemption of sale of units of MF are exempt u/s 10(38).  dividends recd on MF's is exempt u/s 10(34).  This shud have been in each year's return as exempt income. Sale of units will have to be disclosed as exmept income under the relevat column of teh Return.

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On 28 December 2012 at 20:05

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