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Rekha Sharma (.)     30 March 2011

form to show loss in mutual funds to file income tax return

For the investments done in mutual funds and to show the loss that occured in mutual fund investments which form is needed to be filled? I heard Saral form 2.  But there is no option to show the loss that occured. Kindly clarify this at the earliest, so submit the form before 31st of March 2011.

For e filing is the sign has to be scanned then attached to it? After registering then can I immediately fill and submit the form? Kinldy guid in the above mentioned doubts. Thanks you very much.


 12 Replies


The loss/gain from mutual funds need to be shown in the column Income from capital gains. The loss is short term if the period of holding is less than one year and it is termed as long term if the period of holding is more than one yera. The tax rates are different on short term and long term capital gains. The signatures need not be scanned on efiling website there are two options in case you have your digital signatures than the filing process is complete once you upload the form but if you dont have then once you upload the file form-V is generated that you need to sign and mail it to CPC bangalore. Once it is processed at CPC bangalore you will receive the acknowledgement at your mail ID and also you can check the status in my account section of IT website where you would have uploaded the return. Hope it helps.

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Rekha Sharma (.)     30 March 2011

I really thank you for your reply. It means that if I will get scanned the signature then the process will be compleated by submitting. Else have to send it to bangalore. Is it so?


And I also want to know that when I searched the site regarding this the form ITR-2 is meant for the purpose of capital gains section, as it is mentioned in the ITR-1 thats those who gain from capital gains should not file the the return using this ITR-1 form.SO shall I proceed with ITR-2 form? Please tell me this.


Yes use ITR-2 as you have income from Capiltal Gains. The form is actually a Excel form that you complete and then it is changed to a XML format that you upload. There is no option for scanning signatures you will need to sign and send the acknowledgement to CPC, Bangalore. Its convenient do you find it difficult to send the signed acknowledgement by post.

Digital Signatures is only the other option if you dont want to send the acknowledgement by post. Its not scanned copy of the form.

Attached File : 57 57 copy of 2010 itr2 r27.xls downloaded: 276 times
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Rekha Sharma (.)     30 March 2011

thank you for your kind reply. WIll it be really possible online easily as per the instructions or may I download it and submit it to the concerned office?

CA VK Dwivedi (Job)     30 March 2011

Hi Rekha:

Below is for your reference, as i full information is not give hence you can decide which form is  to use:

  • ITR-1 : For Individuals having Income from Salary / Pension / Income from One House Property (excluding loss brought forward from previous years) / Income from Other Sources (Excluding Winning from Lottery and Income from Race Horses. There is No income from business or Capital Gain loss.
  • ITR-2 : For Individuals and HUFs not having Income from Business or Profession But have Capital Gains/ Loss.  
  • ITR-3 : For Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship .
  • ITR-4 : For individuals & HUFs having income from a proprietary business or profession.


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The form is not difficult to complete as the form has built in checks that will guide you if you have missed populating any information. Just complete a tab and then check if this is complete by clicking on the validate button and if any information is missing you will come to know and can complete. Just fill the personal information in part A, then check by clicking validate if everything in order move to the other tab - part B and so on. It is not difficult and gives you the independence to do it yourself without depending on any other person at the comfort of your home. Once you complete the all the tabs check validation and then generate XML. The instructions for filing it is on the last tab. Most of the information you would not require to fill and some tabs will be populated itself automatically as the form is cross linked to other tabs.

I would suggest give it a try it may take 30-35 mins for a first time user than once you know it then from next time it will be easier.

1 Like

Rekha Sharma (.)     30 March 2011

Thank you very for providing such a good and detailed information. I will try and will let you know what happened.

Thank you very much.

Rekha Sharma (.)     31 March 2011


I have filled the form and saved it. But the next step is where to find the XML generate button?

Kindly guide me. Where is it? Is it in the site? I didnt find it.


There is a button 'Generate' on each tab click on that and save the file generated on your system. The file generated will need to be uploaded on the IT website by showing the path of the XML file generated. 

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its below the validate button that you would have used earlier

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@ Rekha- were you able to finally file your return or not

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Rekha Sharma (.)     02 April 2011

Actually I tried that night till last. I was late as earlier I searched on net and found that that the last date was in July 2011. But as per TV information etc I thought I have to file it now itself. I was trying for first time for this. First I had to collect all data so it took time. Then when I tried on my pc, THat Generate button was not working ie nothing was happening by clicking that button. So finally I left doing that thinking I can do it later by gathering information regading this. And next day I called the office at Bangalore and they said the last date is in July 2011 for this financial year. So now I will first file for the financial 2009-2010 then for 2010-2011 by e-filing.

31st was for financial yr 2009-2010. If not filed that yr return, this can be filed physically but e-filing cant be done. Can any one file for the financial year 2008-2009 physically now also, if tax is not required to pay but just to show the investments.

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