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.
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.
BHUPINDER SHAH AND COMPANY
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