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Income Tax Return: Along with tax on gains, software compatibility issues bother equity, MF investors
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Following the introduction of Section 112A, after the long-term capital gain (LTCG) on equity is made taxable, apart from paying 10 per cent tax on such gains over Rs 1 lakh in a financial year, filing the Income Tax Return (ITR) has become a headache for the equity and equity-oriented mutual fund (MF) investors.
As the 112A page in the ITR Forms (except ITR 1 and ITR 4) demands investment related details against every redemption, filing the return of income has become a daunting task for the investors investing especially through the SIP (systematic investment plan) route.
This is because, in case an investor having monthly SIP in 10 equity-oriented MF schemes for the last 11 years redeems all the investments in a financial year, except the
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