Whether investment in mutual funds should be shown in income tax return by an individual.
If yes, Then where I should show it.
2 Replies
Kiran Hathalia
(837 Points)
Replied 06 May 2020
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.
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1448 Points)
Replied 06 May 2020
Investments
👇
Asset
👇
Balance sheet
If redeemed then exempt income to be shown in itr.
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