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Shares capital gain and ITR-2 column?

Ashok (Not applicable) (86 Points)

16 May 2010

Shares capital gain and ITR-2 column?

I have sold few shares as per following details
1. 10 units with holding of 9 months (Gain 15,000)
2. 15 units with holding of 15 monts (Gain 25,000)

I want to know what tax rates are applicable of these gains
and in which column/schdeules these gains have to be shown in ITR-2

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4 Replies

CA Shiv (Business Controller) (2987 Points)
Replied 17 May 2010

15k is a short term capital gain. and other is long term capital gain which is exempt.....do you have any other income other that and do you fall in tax liability? if not show whatever you wish as there wont be tax liability.

Ashok (Not applicable) (86 Points)
Replied 18 May 2010

Thanks Shivang

In which colums should these be mentioned in ITR-2

Naveen (Learner) (116 Points)
Replied 18 May 2010

Hi,

Just to add..

Long Term capital gain is exempt under section 10(38) only if it is from transfer of Equity shares or Equity oriented mutual funds and STT (security transactions Tax) has been paid on it.

LTCG on shares and other securities is taxable at 10% to all assessees.