During March 2018, I have redeemed Rs.50000/ (two MF tax saving schemes of 25000/- each) after a lock in period of 3 years. For the FY 2017-18, I am taking this redemption as Tax exempt and showing in "Exempt Income". Also dividend received on the above during the FY 2017-18 is less than Rs.7000/ and showing under "Exempt Income"
Pl clarify if my action as above is right, otherwise what is the action required. Shall be grateful for your advise.
Note: I am 68 years old and depending only on interest income on deposits. This is my first investment in MF during 2015 and I no longer continue with this type of investment.
1 Answers
Hi,
Yes, your understanding is correct. Both are exempt income for FY 2017-18 / AY 2018-19.
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