banner_ad

Which itr form to use for reporting mutual fund profit?

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
01 June 2018 In March 2017, my mother sold a long term tax saving mutual fund and earned profit of 55K. Apart from pension and the bank FD interest that is the only additional income she had. So while filing Income tax Return, which form she should use? Is it ITR-1 or ITR-2? I believe she can use ITR-1 and declare the earned profit on mutual fund as Exempt income under Sec. 10 (38). But please confirm. Thank You.
Profile Image

Nikhil Kaushik

Profile Image

Nikhil Kaushik (Expert)
01 June 2018 yes you can use ITR-1. For next year, you will have to use ITR-2 as LTCG will be taxable from next year.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
04 May 2026
Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
28 April 2026
Senior Accounts Professional

Vivek S Gupta & Associates

New Delhi

B.Com

View Details
Company
29 April 2026
Associate - Audit, Tax & Compliance

Open Co Consulting LLP

New Delhi

B.Com

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details