In March 2017, my mother sold a long term tax saving mutual fund and earned profit of 55K. Apart from pension and the bank FD interest that is the only additional income she had. So while filing Income tax Return, which form she should use? Is it ITR-1 or ITR-2? I believe she can use ITR-1 and declare the earned profit on mutual fund as Exempt income under Sec. 10 (38). But please confirm.
Thank You.
1 Answers
Hi,
Yes, she can file ITR-1 form and declare the LTCG as exempt income.
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Thank you Sreekanth for quick reply.
