For a male aged 63 years following are Income details. Other Income 270000, 80C savings 1 lac, STCG in shares/MF 5500, LTCG 1900. Is there any STCG/ LTCG Tax.? If no, in ITR2 form, does one has to show capital gains in Part B-T1, Schedule CG, SI or leave them blank against gains.
Dear Sir,
though the tax on capital gains (STCG as well as LTCG) would be nil in your case... as it's below the exemption limit.. however, you are required to show the details in regards to capital gains in the ITR.... at appropriate places.. then, the file will automatically calculate nil tax on your total income.. but you need to give details of income that generated on the sale of shares/MF etc.
Best Regards,
CA Lovely Arora
ca.lovelyarora @ gmail.com
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