How to file multiple Long Term Capital Gains arising out of sale of units of MF purchased on sip dates and redeemed in a Financial Year?
2 Answers
Hi,
Are you referring to LTCG on Equity funds or Debt funds?
Suggested reading :
https://www.relakhs.com/mutual-funds-taxation-rules-capital-gains-tax-rates-on-mfs-fy-201516/
Hi,
Your comment (reply) got deleted by mistake..hence posting it here..
"My question is suppose one subscribe to equity fund SIP which does fund buying on consecutive months all the units which are above one year but bought on different dates due to sip , in this scenario how can LTCG be filled avoiding multiple entries in ITR 2."
My reply :
On redemption, the first in - first out method is followed.
All the units (Equity funds) which are older than 12 months, any gains on them are treated as LTCG and are tax-exempted. The LTCG can be shown under 'Exempt income' section of ITR.
The units which are held below 12 months, on redemption if any gains are made, they are treated as STCG and are taxable @ 15%. These gains have to be shown under CG-calculations in ITR.
i am aware of the process and taxation part but how do we file these gains on itr2 as there can be many txns thus bringing in operational challenge , can they be filled compsitively
Yes, they can be filed as cumulatively ..
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