Do I need to show profit from SIP in equity mutual fund while filling ITR form?

POSTED BY Mr.Nilesh ON January 31, 2014 3:03 pm COMMENTS (3)

Do 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.

3 replies on this article “Do I need to show profit from SIP in equity mutual fund while filling ITR form?”

  1. ashalanshu says:

    Dear Nilesh, it’s section 111A.

    Thanks

    Ashal

  2. ashalanshu says:

    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

    1. Mr.Nilesh says:

      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

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