Mutual fund investment

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

22 May 2016 My client has invested his profits in mutual fund and shown in balance sheet under investments. Is investment in mutual fund consuidered trading and Does he have to pay under Rule 6(3) of CCR,2004 for not maintaining separate accounts.

Ganeshbabu K

Ganeshbabu K (Expert)
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23 May 2016 Generally investment in mutual fund(other than liquid funds) considered as long term investment as it is expected hold for more than one year atleast.liquid funds are generally expected to realise in 3-6 months or even before ,,same can be group under other current assets.in other case classifying longterm investments is valid

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2016 what about payment in this respect u/Rule 6(3) of cenvat credit, rules 2004

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