Lokesh L (Accounts & Finance Executive) (32 Points)
07 April 2018Dear Sir,
We Invest 5,00,000/- in Mutual Fund, as in NAV has decreased last 2 months respetivley, presently the market vakle is Rs. 4,50,000/- so how we can show this entry in tally , whether the diffence amount can show in Short Term Capital Loss ? or how to show the decreased amount in tally ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 07 April 2018
Any gain or loss is calculated only at the time of redemption. Till that period the investment value remains same...
Lokesh L
(Accounts & Finance Executive)
(32 Points)
Replied 07 April 2018
Thanks for the clarification Sir.
Shiva Karnati
(CA FInal)
(49 Points)
Replied 13 June 2018
Dear Sir, We are investing in mutual funds every month Rs.5000/- from 2014 on wards. Total units as on June-2017 is 7353 and we redeemed 4045 units. How to account these entry. NAV as on June-2017 is Rs.37.
Shiva Karnati
(CA FInal)
(49 Points)
Replied 13 June 2018
Dear Sir,
How to account switch out and switch in of Mutual funds.
Switch out
No of Units: 10000
Price: 14.9850
Total :149848.50
Switch in:
No of Units 4677.941
Price: 32.033
Total Amount: 149848.50
Please gude me how to account above switch out and switch in of mutual funds.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 13 June 2018
| Originally posted by : Shiva Karnati | ||
 |
Dear Sir, We are investing in mutual funds every month Rs.5000/- from 2014 on wards. Total units as on June-2017 is 7353 and we redeemed 4045 units. How to account these entry. NAV as on June-2017 is Rs.37. |  |
Check your statement as on June 30, 2017.....
Also download/request for capital gains statement for FY 2017-18......
You will be clear about the entries......... or come back for clarification........
Good luck ...
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 13 June 2018
When there is switch out of scheme 'A' with switch in of scheme 'B' ....
Scheme 'B' 149848.50 Dr.
Cr. Scheme 'A' 149848.50 .......
Shiva Karnati
(CA FInal)
(49 Points)
Replied 13 June 2018
Dear Sir, Initial investment for Scheme A is Rs. 100000/- only . At the time of Switch out the prices was Rs.149848.50/-. What should we treat this difference as Capital gain?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 13 June 2018
Yes, If initial investment of Scheme 'A' is 1 lakh for the switched units..
Scheme 'A' 49848.50 Dr.
Cr. LT/ST capital gains 49848.50
Vandana Arora
(student)
(23 Points)
Replied 26 June 2023
Same question. If you got clarification please give answer to me as well
CAclubindia
