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

359 views 5 replies

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)

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
ARTICLESHIP 08 July 2026
Article internship

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
ARTICLESHIP 15 July 2026
CA Articles

Kinjal H Shah & Co.

Mumbai

CA Foundation

View Details
Company
ARTICLESHIP 16 July 2026
CA Article

Pipara & Co. LLP.

Mumbai

CA Inter

View Details
Company
28 July 2026
Senior accountant

RJ Public School

Bengaluru

B.Com

View Details
Company
ARTICLESHIP 17 July 2026
Article Assistant and B.com pass

BANSAL YOGESH AND CO

Gautam Budh Nagar

B.Com

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

Sahil Agarwal & Company

Mumbai

CA Inter

View Details
Company
22 July 2026
Senior Chartered Accountant

SKSS

Patna

CA

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details