Sip profit
This query is : Resolved
03 April 2012
Dear Friends
I am Investing monthly SIP (Systematic Investment Plan)
HDFC Top 200 per month
2011-12
No of Units availed 198/-
NAV as on 31-3-2012 234/-
My Avg Price is 216/-
Total Profit as 31-3-2012 keeping the NAV as on 31-3-2012 as base I have earned Rs 3564/-
My Qustion how is the follows
1) Wheather I can show profit yearly ? (As I am Investing for 10 years)
2) Under which head it showed as Income ?
I am Investing monthly SIP (Systematic Investment Plan)
HDFC Top 200 per month
2011-12
No of Units availed 198/-
NAV as on 31-3-2012 234/-
My Avg Price is 216/-
Total Profit as 31-3-2012 keeping the NAV as on 31-3-2012 as base I have earned Rs 3564/-
My Qustion how is the follows
1) Wheather I can show profit yearly ? (As I am Investing for 10 years)
2) Under which head it showed as Income ?
04 April 2012
Profit needs to be shown only in the year in which you are redeeming the units.
As long as you are holding the units, no need to show the notional profit.
It will be under the head Capital Gains.
If you are holding the units for more than one year then it will be long term asset. Long term Capital Gain on the investments in mutual fund is exempt from tax.
As long as you are holding the units, no need to show the notional profit.
It will be under the head Capital Gains.
If you are holding the units for more than one year then it will be long term asset. Long term Capital Gain on the investments in mutual fund is exempt from tax.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
