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1 lakh deduction on Capital gain from stocks not being calculated?

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G Verma

108 Points Posted on 26 July 2023

I am trying to file tax through cleartax, below is my capital gain from purchase sale of stocks taken added to cleartax. Shouldnt this also include 1 lakh additional deduction which is the standard deduction. I have long term gain of 12,31,877 and short term loss ( which i booked for tax saving of 2,26,728. But total capital gain is still 10,05,149, should it not have another 1 lakh deduction?

Replies (3)

Quick Summary

A user is experiencing an issue with their capital gains tax calculation on Cleartax, where the standard ₹1 lakh deduction for long-term capital gains appears to be missing. Despite having a significant long-term gain and a short-term loss, the total taxable capital gain doesn't reflect the expected deduction. The user is seeking clarification on why this deduction isn't being applied and how it impacts their tax liability.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121546 Points Posted on 26 July 2023

Under Capital gains calculation it will be 10.05 lakhs only.

While calculating tax under special rate the tax liability will be Rs. 90,515/-

sabyasachi mukherjee

Profession

19978 Points Posted on 02 August 2023

Holding or tenure is very pertinent.

Aashok Kumar Sharma

Finance/Compliance Consultant

75870 Points Posted on 08 November 2026

The Rs 1 lakh / Rs 1.25 lakh 112A exemption:
• The exemption applies only to LTCG under Sec 112A (listed equity shares, equity-oriented MF and business trust units with STT, held more than 12 months). It was Rs 1 lakh up to FY 2023-24 and Rs 1.25 lakh from FY 2024-25.
• It doesn't apply to STCG (111A), or to gains on unlisted or foreign shares.
• In the ITR (Schedule 112A), report scrip-wise. The utility applies the exemption in the tax computation (Schedule SI). If ClearTax isn't applying it, check whether the gains were classified as short-term or non-112A.