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Mutual fund redemption 1

Jyoti Narang (Kkk) (1204 Points)

29 June 2022

if a salaried person redeemed equity oriented mutual fund(RTA) THEN where to show in itr or capital gain is to be charged on it or not.

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14 Replies

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 30 June 2022

Capital gain only

1 Like

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CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 30 June 2022

ITR -2 will be used and show this income in capital gain

1 Like

Jyoti Narang (Kkk) (1204 Points)
Replied 30 June 2022

Is it a long term capital gain and it is to be shown as income and what is the tax rate applicable on it.

CA Puja Sharma (Chartered Accountant) (5010 Points)
Replied 30 June 2022

If the mutual fund-equity funds were held for more than 12 months then it will be LTCG. In the case of Debt funds, it will be treated as long-term if held for more than 36 months.

Equity funds -

LTCG - A tax rate of 10% will apply on all gains above Rs. 1 Lacs.

STCG - 15% flat rate

Debt funds

LTCG - A tax rate of 20% will apply to all gains after indexation

STCG - applicable slab rate

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 30 June 2022

Depends on nature of CG, in case of LTCG from shares 10% withhout indexation & 20% with indexation (exemption of Rs 100000 allowed ) and stcg from equity u/s 111A taxable @ 15% and other STCG at slab rate

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Jyoti Narang (Kkk) (1204 Points)
Replied 04 July 2022

If ltcg on redemption of mutual fund is less than 100000 then it is to be shown in itr or not

Manas Phadke (Senior Consultant) (90 Points)
Replied 04 July 2022

Even if LTCG on MF redemption is less than 1 lakh it still needs to be shown in ITR, assume its already showing up in the AIS

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 04 July 2022

You need to show details of CG even amount is less than Rs.1 lakhs.

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 04 July 2022

If it is long term capital gain then upto 1lac is exempt

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 04 July 2022

Already mentioned by querist, you are making him aware about facts which are already known to him.

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Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 07 July 2022

But in the initial query it was not asked ..

Exempt but still it has to be shown

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 07 July 2022

But before your reply he mentioned it

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 10 July 2022

👍🏻👍🏻🍵

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 10 July 2022

You have not capability of matching my points that's why you are doing all senseless thing like putting thumbs after every post.
Use your knowledge to ear point not only thumbs.