Which ITR should be filed ?
This query is : Resolved
24 September 2020
I am sharing income details for. Fy.2019-20.
Sale of (long term )shares ... 552500
Less : cost of acqusition 389300
Gain 163200
Less : exmpted. 100000
Taxable gain. 63200
I have other interest income 50000
No other income . Taxable income is also less then exempted salb of 250000
Gain is less then taxable limit . My query is
Whether i have to file income tax return as income is less then taxable limit ?
If yes , which ITR i have to file .. ITR -1 or ITR 2
Please advise
Sale of (long term )shares ... 552500
Less : cost of acqusition 389300
Gain 163200
Less : exmpted. 100000
Taxable gain. 63200
I have other interest income 50000
No other income . Taxable income is also less then exempted salb of 250000
Gain is less then taxable limit . My query is
Whether i have to file income tax return as income is less then taxable limit ?
If yes , which ITR i have to file .. ITR -1 or ITR 2
Please advise
CA R SEETHARAMAN
(Expert)
24 September 2020
File ITR 2 as income before exemption exceed 2.50 lacs.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- GSTR9 Annual Return
- Employee secondment
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Reward for festival
- Ito add credit side of bank
- Form 144 TDS Return Validation error
- Closer of business and itc of capital goods
- Capital gain on commercial property and investment in residential property
- Rectification under processing even after 6 months cpc portal
- RCM and same line
- TDS Return Statement Status
- ARCA LOGIN
- Appointment of Auditor By Form ADT-1
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
