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capital gain

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(Querist)
28 September 2017 During this financial year we received a capital gain of RS 4crores by shelling unlisted equity shares and we have deposited RS 1 crore in Birla mutual and reliance mutual funds is there any exemption is permitted as we have deposited in mutual funds
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
28 September 2017 No exemption allowed for same........ You can get deduction of max. 150000/- in Sec 80C.
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Amol S Joglekar

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Amol S Joglekar (Expert)
29 September 2017 no exemption for investment in non specified mutual funds.
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Amol S Joglekar

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Amol S Joglekar (Expert)
29 September 2017 for long term capital gain,one needs to be careful in claiming the deduction u/s 80C

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