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LTCG in ITR 4

Tax queries 866 views 3 replies

Please help me in filling LTCG in ITR 4:

Full value of condiseration         15 lacs

cost of acquisition after transfer 686737

Balance                                  813263

Deduction u/s 54EC                820000

Net Balance                               NIL

Amount deemed to be LTCG u/s 54/B/54C/54D/54E/54F/54G/54GA  NIL

 What to mention in below

Total LTCG (enter nil if loss) 

Replies (3)

according to u , u r capital gain is 813263 ( sale consideration - cost) . deduction u/s 54EC is 820000. as per rule, dedection shall not exceed captial gain.

so in column of deduction u should write AMOUNT OF 813263 ONLY  and not 820000. so u r capitla gain would be NIL. THERE IS NO CAPITAL LOSS AT ALL. u r capitla gain is NIL. SO ENTER VALUE AS NIL

Thanks. I see ITR 4 says to mention NIL if loss. What to do with it.

In Part B-TI, u will write NIL if their is loss from Sale of Capital Asset and write the figure of loss in Schedule CFL. But urs is not a loss case so write NIL in Part B-TI as explained above by Ms. Ruchi.
 


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