Investment in mutual fund
Tina Jain (CA) (250 Points)
12 May 2018
Kindly suggest Accounting and tax treatment of investing in mutual fund and documents required to give effect to entries
2 Replies
ANKUR TAH
(Teacher Consultant and CA finalist.)
(543 Points)
Replied 12 May 2018
Income from Mutual Fund is completely exempt from income tax us 10(34) and a few tax benefit mutual fund investment is there and these are basically for the individuals and HUF. For the purpose of the accounting entries you can treat as an short term Investment if lock in periods are more than 1 years.
Tina Jain
(CA)
(250 Points)
Replied 23 May 2018
which code is there for mutual fund while entering and filing itr
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