Nishant (Accounts Assistant) (378 Points)
25 July 2019Dear Sirs, Plz reply the following :
1) My client is an NRI
He has redeemed his SIP after holding it for 2.5 yrs . Whether the gain is taxable or Exempt ?
2) Where to such a redemption transaction in ITR 2 ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 Points)
Replied 27 July 2019
1. Taxable.
2. Depends upon period of holding of each monthly investment, it will be both LT & ST. So, check the capital gains statement issued by fund house.
3. LT capital transactions can be filled in schedule 112A of ITR2, while for Short term fill suitable column in section A of Schedule CG.
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