Jyotika (CA studying) (68 Points)
17 January 2011
Dear Sirs,
Kindly Clarify whether Short Term Capital Gains (STCG) of DEBT MUTUAL FUND comes under Section 111A or not. Where should I mention this in ITR-2 whether in (3ai) or (3aii)? Please clarify.
STCG of DEBT MUTUAL FUND is clubbed with Total Income and Tax is calculated as per the Tax Slabs.
Is the above is correct? Should I mention this in (3ai) or (3aii) of ITR-2. Please reply.
Jyotika
SUNIL GARG
(CHARTERED ACCOUNTANT)
(175 Points)
Replied 17 January 2011
Jyotika Ji,
Sec. 111A covers only:
i) Equity Shares of a company; and
ii) Units of a Equity Oriented Mutual Fund.
So, the STCG from DEBT MF will not be covered under section 111A. This income will be clubbed in normal income and tax will be charged at normal slab rates.
In ITR 2, it will come in column 3 a (ii).
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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