Anil Rego |373 Answers |Ask -Follow
Financial Planner - Answered on Dec 17, 2020
Now my query is as per new ITR should I show the investments in these MFs too? Right now, the 26AS form only shows the TDS deducted.
Switches from one scheme to another will be treated as transfer under the IT act 1961 and will be subject to levy of capital gain tax, even if the gains are reinvested and not removed.
Whenever you switch or sell any mutual fund, you need show it as the sale value and compute the capital gain/loss by reducing the corresponding purchase value from the sale value.
The mutual fund capital gains will not show up in your 26AS statement, but still needs to be declared in your return.
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