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LTCG from sale of MF units

M. Sreehari (Retired Professor) (77 Points)

06 January 2020

I want to sell some MF units which I have been holding for over 10 years. If there is going to be some LTCG (loss or profit) where should I mention it in ITR 2 ? I know that I have to fill Schedule 112A in case of sale of shares and it automatically gets carried to CG Schedule.

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4 Replies

Debiprasad Jana (295 Points)
Replied 06 January 2020

You have to fill itr 2 if you are a salary person or you have income from other source. holding 10 means its a LTCG. up to 1 lakh there will be no tax but after 1 lakh 10% of the ltcg will be levied

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M. Sreehari (Retired Professor) (77 Points)
Replied 06 January 2020

Thanks for the quick reply. I found that in ITR 2, I have to fill Schedule CG. This contains Part A for STCG and Part B for LTCG. In part B, item 4 is for sale of equity shares or equity oriented funds. The data for item 4 comes from Schedule 112A. But Schedule 112A seems to concern only Equity shares because one of the important columns relates to Fair Market Value of the capital asset/unit sold. How do I get the information on the FMV of MF units?

manthan shete (37 Points)
Replied 06 January 2020

You can get FMV as on 31st Jan 2018 from money control website. Also when you will actually sell the mutual funds you can ask for Capital gain account statement from your broker. It will contain the entire computation of capital gain as required to be filled in ITR.