STCG on Debt Mutual Funds

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JAYA N

• September 22, 2020 07:05
• Edited

I have redeemed Liquid Debt Funds in FY2019-2020 and made a small amount of STCG ( held for less than 3 years ).

I understand it is to be taxed as per slab applicable to assessee but I do not know where it is to be declared in ITR-2.

Please let me know in which Sheet and Cell of ITR-2 the STCG on sale of Debt Mutual Funds should be entered.

In FY2018-2019, I had incurred LTCL on sale of listed equity shares. Can this year's STCG on sale of Debt Funds be set off against LTCL from earlier years?

 

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• 

  Team Quicko

  • September 23, 2020 07:49
  • Edited

  Hi Jaya,

  
  You should declare STCG on debt mutual funds in A5 of Schedule CG in ITR-2.

  
  Further, Long Term Capital Losses(LTCL) can be set off against other LTCG. It can not be set off against STCG and any other income. 
  
  You can read more about Long Term Capital Gain Tax on Shares on our Learn Center.

  Hope this helps :)

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