Tax treatment for elss mf gains after 3 year lock in periodg

I invested 100000 in elss mf. After 3 year lock in was over i redeemed it for 150000. So my gain from redemption is 50000.

I have shown 500000 as my profit under 44ADA (51%) from my profession. My question is  

Is this 50000 gain  from mf added to 500000 from my profession and my tax is calculated on 550000 at regular tax slabs  ?

OR

IS THIS 50000 from mf  taxed at different rate and treated differently??

Also which itr is appropriate to file? (Income  from profession plus  gains from mutual fund sell)

Replies (5)
Quick Summary
This discussion clarifies the tax implications of redeeming ELSS (Equity Linked Savings Scheme) mutual fund investments after the mandatory 3-year lock-in period. It addresses whether the gains are added to professional income for taxation under regular slabs or taxed separately. The consensus is that ELSS gains up to ₹1 lakh are tax-exempt, and for higher gains, ITR-3 is the appropriate form to file, especially when combined with professional income.

The transaction is to be declared in schedule 112A, where it will be exempted up to 1 lakh. No tax liability will occur.

Thanks sir, but Which itr return to file?? 

File ITR 3.                           

Ok sir

Many thanks

 

YOU ARE WELCOME.           

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
17 August 2026
Chartered Accountant with US GAAP Experience

Austin Med Solutions Pvt Ltd

Bengaluru

CA

View Details
Company
ARTICLESHIP 08 August 2026
Article Assistant

Sanath Sheshagiri & Co.

Bengaluru

CA Inter

View Details
Company
21 August 2026
Finance Manager

Resollect Technologies Pvt Ltd

Mumbai

CA

View Details
Company
13 August 2026
Chartered Accountant (FP&A)

Client of Trellis Consulting

Gurgaon

CA

View Details
Company
Featured ARTICLESHIP 04 August 2026
Article Trainee

Prish Consultancy LLP

New Delhi

CA Inter

View Details
Company
06 August 2026
Sr accounts executive, Asst Manager

JAMNA AUTO INDUSTRIES LTD

Jamshedpur

CA Inter

View Details
Company
08 August 2026
International Corporate Tax Advisory

Shulke

Bengaluru

CA

View Details
Company
ARTICLESHIP 14 August 2026
Article Assistant

N J Suresh & Associates

Bengaluru

CA Inter

View Details