I am a central government employee, my income apart from my salary includes interest from PPF account, saving account & capital gains from equity mutual funds. Which ITR form should I use to file ITR for the FY 2016-17?
-Mukesha Sah
You should use ITR-2 to file your income tax return if you have any income from capital gains tax in addition to any other head(s), viz., income from salary/ pension, income from house property, and income from other sources like interest from savings account/fixed deposits. But please note that capital gains tax is only applicable when you redeem your mutual fund investments. Till the time you continue to hold your investments, there is no need to file them in your income tax return. And in that case, you can use ITR-1 to file your tax return.
This article was originally published on May 10, 2017.
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