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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?

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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.