Whether investment in mutual funds should be shown in income tax return by an individual.
If yes, Then where I should show it.
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About mutual funds
Replies (2)
If the balance sheet is prepared, then it is to be shown on the balance sheet side. If not, then only the income earned I. e dividend should be disclosed in exempt income as dividend from mutual fund is tax free u/s 10(35) of the Act.
Investments
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Asset
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Balance sheet
If redeemed then exempt income to be shown in itr.
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