Anil Rego |377 Answers |Ask -Follow
Financial Planner - Answered on Nov 23, 2021
So I sold some of my long term mutual funds (for the first time in my investment tenure) in which I gained some LTCG amount after grandfathering, over and above the Rs 1 lakh exempted limit.
Also, I have withdrawn my full EPF amount. The following are my queries:
1. Which ITR form needs to be filled?
2. How to show taxable amount in ITR? Only the amount needs to be shown or complete calculation needs to be shown with grandfathering NAV?
3. Where to show EPF amount withdrawn?
4. Is taxable amount above Rs 1 lakh also to be shown as income from other sources?
1. ITR 2, since you have capital gains from mutual funds.
2. The ITR would have a separate schedule for capital gains in which the details would need to be filled.
3. The EPF withdrawn should be shown as part of exempt income under Section 10(12) of the income tax return in case of recognised provident fund.
4. Your question not clear. If you are asking about the gain on the sale of your equity shares, you need to show it under income chargeable under the head -- capital gains.
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