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Debt mutual funds held less than 3 years

J S BHAVSAR (CONSULTING) (1288 Points)

07 August 2018

Where to show income earned from Sales of Debt Mutual Funds held less than 3 years? I believe it will be STCG and get added to the taxpayer income. But how to add and where?

Should we fill ITR2 - > Schedule CG -> A5 for entering this income?

Should this be entered in Income from Other Sources?

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5 Replies

Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 07 August 2018

It will be taxable under head Capital gain

Amount received - Brokerage - Purchase cost & if STT paid then taxable as per slab or else @ 15%

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J S BHAVSAR (CONSULTING) (1288 Points)
Replied 07 August 2018

Originally posted by : Ruchika Somani
	It will be taxable under head Capital gain Amount received - Brokerage - Purchase cost & if STT paid then taxable as per slab or else @ 15%

In which Section and Sr No to enter in Schedule CG of ITR2?

Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 07 August 2018

Originally posted by : J S BHAVSAR
	Originally posted by : Ruchika Somani It will be taxable under head Capital gain Amount received - Brokerage - Purchase cost & if STT paid then taxable as per slab or else @ 15% In which Section and Sr No to enter in Schedule CG of ITR2?

Total Income

3(a)(1)

J S BHAVSAR (CONSULTING) (1288 Points)
Replied 07 August 2018

Originally posted by : Ruchika Somani
	Originally posted by : J S BHAVSAR Originally posted by : Ruchika Somani It will be taxable under head Capital gain Amount received - Brokerage - Purchase cost & if STT paid then taxable as per slab or else @ 15% In which Section and Sr No to enter in Schedule CG of ITR2? Total Income 3(a)(1)