LOSS ON MUTUAL FUND

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2011 march.2008 I invested Rs. 2,50,000/- in mutual fund and redeem the same on 04/03/2011 .Loss incured for the same is 1,55,615/-.

While filing my Income tax return how I will treat the same loss and in my ITR-1 which column I have to show the same

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 June 2011 ITR-1 is not the form. Seems 1TR-2 is the appropriate form and details thereof to be shown in schedule CG.

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2011 Income sources are salary, house rent etc...

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 June 2011 Still ITR-1 can't be used. See instruction no. 2 in http://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/PDF/Ay2011-12/sahaj_instructions_2011.pdf

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2011 ITR-2 MENTIOEND AS-
For Individuals and HUFs not having Income from Business or Profession.

Income from Salary means - Profession income