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

349 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 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
24 June 2026
Chartered Accountant - GST & Direct Tax

APL

Mumbai

CA

View Details