POSTED BY January 31, 2014 3:03 pm COMMENTS (3)
ONDo I need to show profit from SIP in equity mutual fund while filling ITR form? I have started SIP in feb2013 & stopped in Nov 2013 & redeem all money from it.
Got money by deducting 1% loading as redemption before completing 1 year. I come in 10% tax bracket.
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Dear Nilesh, it’s section 111A.
Thanks
Ashal
Dear Nilesh, the profits from eq. MFs are short term capital gains and you need to pay 15.45% tax on your profit.
For you STCG = actual redemption amount into your bank account – actual invested amount
Thanks
Ashal
thanks for the reply.
where should i mention it?there are two options-
1.Covered under section 111A
2.other than Covered under section 111A