Mutual Fund declaration in BS
This query is : Resolved
11 August 2022
One of My clients has a balance in Mutual Fund-OTHERS M.V. around 50 Lakh, as on 31st March 2022-short term, purchase month March 2022 & sale month May 2022, Where i should declare this Investment in BS ended 31st March 2022? in Investment or other Asset of the Asset side of BS?
11 August 2022
If you are filing ITR 3, then its possible to declare, otherwise there is no requirement of any BS declaration.
11 August 2022
Show it as investment
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11 August 2022
In investment schedule where I show thee amount of Mutual Fund? It is short term investment and not investment in equity, preference share and debenture, as shown in format BS of ITR 3. Can I show this MF in other Current Assets field?
23 August 2022
Yes you can show it under CA
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