Hi,
A person is investing through SIPs in SBI Mutual Fund (Direct Plan) and has never redeemed any units. He has invested in multiple mutual funds. Does he need to report anything in his ITR? If yes, where should these details be entered?
How do we actually verify whether anything to be reported in ITR for a financial year?
Thanks
If you only invested in Growth-option non-ELSS funds and your income is under ₹50 lakhs, nothing needs to be reported in your ITR. You can double-check and verify this completely by checking your AIS/TIS statement on the Income Tax portal and confirming that no redemption or dividend entries exist for that financial year.
Thanks, the 50Lakh is the income he received on that particular financial year or is it the income he generate using the SIP?
Please ignore above question. Just for the knowledge purpose, If the total income above 50 lakh how that relate to the SIP Mutual fund investment?
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