r NCD's debt funds? if ncd's bought are bought before march 2023 and sold after march 2023 under which header should i be showing the gains or loss from them in itr2?
1 Replies
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5175 Points)
Replied 23 July 2024
In ITR-2, Non-converible Debentures (NCDs) and debt funds are considered investments and should be reported in the following schedules:
- Schedule IF; Show the investment details, including NCDs and debt funds,in this schedule.
- Schedule FL: Report the income earned from NCDs and debt funds, such as interest income, in this schedule.
- Schedule El: If you have sold or redeemed NCDs or debt funds, report the capital gains or losses in this schedule.
- Ensure you also report the correct details in other relevant schedules, such as Schedule 112A for long-term capital gains.
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