Mutual fund

This query is : Resolved

NITIN (Querist)
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04 September 2011 I have Invest 1000Per Month In UTI Mutual Fund.
So, What treatment will we do in my Book Now and after maturity/Received the same what we will do in my book?

Thanks

Iqbal Singh Grover

Iqbal Singh Grover (Expert)
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04 September 2011 For purchase of investment

Investment in UTI MF A/c Dr
To Bank
(with Rs.1000 every month)..

At maturity @loss-
Bank A/c Dr
Loss on sale of investment A/c Dr
To Investment in UTI MF

At maturity @profit-
Bank A/c Dr
To Investment in UTI MF
To Profit on sale of investment A/c

Do not forget to show this profit/loss in your income tax return..

NITIN

NITIN (Querist)
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04 September 2011 Thanks Sir

Any Deduction can be Take in U/s 80C on the same?

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Iqbal Singh Grover

Iqbal Singh Grover (Expert)
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05 September 2011 UTI offers a lot of Mutual Funds.. Some of them are eligible and some of them are not..
So you either ask the advisor or read the documents you signed..