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Capital gain in ITR 4

Ruchi Agrawal (law) (129 Points)

25 July 2010

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 (what should I fill in this?)

Information about accural/receipts of capital gain (Please help me to fill below)

upto 15/9 16/9 to 15/12 16/12 to 15/3 16/3 to 31/3

LTCG where proviso u/s 112 (1) is not applicable (With Indexation)

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4 Replies

Manoj BG (Tax Professional and in Service) (1795 Points)
Replied 25 July 2010

Amount deemed to be LTCG u/s 54/B/54C/54D/54EC/54F/54G/54GA :

Don't fill anything in that, it is a deeming provision and should be filled only when in the earlier years, u claimed deductions under the above sections for calculating capital gain tax and in the current year, u failed to fulfill the conditions given under those section. So don't fill anything in that column and write ast "Nil".

Reagrding date range, u'r date of sale is important. e.g. if u'r sale date is 29.09.2009, then it should be shown under col. 2 that is 16/09 to 15/12.

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Ruchi Agrawal (law) (129 Points)
Replied 25 July 2010

Originally posted by : Manoj B. Gavali

Amount deemed to be LTCG u/s 54/B/54C/54D/54EC/54F/54G/54GA :

Don't fill anything in that, it is a deeming provision and should be filled only when in the earlier years, u claimed deductions under the above sections for calculating capital gain tax and in the current year, u failed to fulfill the conditions given under those section. So don't fill anything in that column and write ast "Nil".

Reagrding date range, u'r date of sale is important. e.g. if u'r sale date is 29.09.2009, then it should be shown under col. 2 that is 16/09 to 15/12.

I sold it on Jan. 22, 2010. should I writen Jan. 2010 in column of 16/12 to 15/3.

is this OK? Please write me and oblige.