Income From Mutual Fund Under Which Head

25000 in a equity mutual fund and redeemed it last year october 2019 with capital gain of rs.

Income from mutual fund under which head. Such profits are included in the annual income of the investor under the income from other sources head in the itr form. Investment experts are always busy answering questions like should i pay tax on my mutual funds or will my investment qualify for a tax deduction. In 2015 she had invested rs. He also derived salary.

The returns earned from mutual funds are taxed under the head income from capital gains many mutual fund investors are a bit confused about the taxation of returns from investments. A dividend received by a shareholder is deemed to be his income for the previous year in which it is declared distributed or paid. In so far as the revenue s appeal for the assessment year 2011 12 is concerned the only ground raised is that learned commissioner appeals has erred in law in directing the assessing officer to treat the profit of rs. The assessee has also shown capital gain.

My question is how should she show this long term capital gain of rs. They can t invest directly in equity or debt. These are special category of mutual funds which invests only in other mutual fund schemes. The assessee is engaged in the business of trading in securities derivatives and professional income.

1 54 79 202 from sale of shares mutual fund under the head capital gains instead of business income. It s important to note that under the income tax act 1961 there is mention of only one type of mutual fund. Should it be under other income head or under exempt income.