Barkha (None) (223 Points)
09 November 2021I need to report short-term capital gains from sale of debt mutual fund unit of Rs. 1700 in ITR3.
Which schedule do I report this in?
Also have long-term capital gains of Rs. 33,000 from sale of equity mutual fund units. I understand this will be tax exempt, but should I be reporting it in ITR3. If yes, which schedule?
Please note I am filing in ITR3 since I have professional income as well.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166917 Points)
Replied 09 November 2021
1. Schedule 'CG' ...
2. Schedule '112A'
Barkha
(None)
(223 Points)
Replied 09 November 2021
Thank you so much. Could you please also guide on what section is to be selected for short-term and long-term capital gains from debt mutual funds in Schedule CG?
Is it "Amount deemed to be Short Term/ Long Term Capital Gains"?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166917 Points)
Replied 10 November 2021
"FROM SALE OF ASSETS OTHER THAN ALL THE ABOVE LISTED ITEMS"
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 11 November 2021
An individual taxpayer who is a partner in a Firm has to disclose details of name and PAN of the Partnership firm. Partners of partnership firms as against ITR 2 will have to file their returns in ITR 3. Details of computation of presumptive income under section 44AD, 44ADA and 44AE.
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