Guidance Required for Filing ITR-2 for Senior Citizen Pensioner with SWP from Mutual Fund

Income Tax Act 1961 Income from Capital Gains
1

Hello Experts,

I need guidance regarding the correct way to file ITR-2 for my father for FY 2025-26 (AY 2026-27).

Background:

  • My father is a senior citizen.

  • He retired in 2022.

  • He receives a pension of approximately ₹3,000 per month.

  • He invested his retirement funds in SBI Hybrid Mutual Fund.

  • He receives about ₹8,000 per month through the SWP (Systematic Withdrawal Plan) facility from the mutual fund.

Information appearing in TIS:

  • Dividend Income: ₹1,063

  • Interest from Savings Bank: ₹2,954

  • Interest from Deposits: ₹337

  • Sale of Securities and Units of Mutual Funds: ₹48,000

Details visible in AIS:
For each SWP transaction, AIS shows:

  • Asset Type: Short Term

  • Quantity: 24.34 units

  • Sale Price per Unit: ₹328.62

  • Sale Consideration: ₹8,000

  • STT: ₹0.08

  • Cost of Acquisition: ₹7,328.60

There are 6 such entries in AIS, which appears to correspond to the monthly SWP withdrawals.

My Queries:

  1. Since the ₹48,000 shown in TIS represents redemption of mutual fund units under SWP, should only the capital gain portion be reported in ITR-2, or should the entire ₹48,000 be treated as income?

  2. How should the short-term capital gains be calculated based on the AIS information?

  3. Is ITR-2 the correct return form for my father?

  4. Pension income is only ₹3,000 per month and there is no other income apart from:

    • Pension

    • Savings bank interest

    • Deposit interest

    • Dividend income

    • Mutual fund SWP/redemption transactions

  5. Are there any deductions or exemptions available for a senior citizen in this situation?

I would appreciate guidance on the correct schedules and reporting method in ITR-2.

Thank you.