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.
Menu
Capital gains
Replies (1)
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
Recent Topic
- GTA Annexure V Non Compliance
- Calculation of Demand due to interest u/s 220(2)
- Legal profession business code in section 44ADA
- Whether Indexed Capital Loss Can Be Claimed Under
- Form 145 and 146 Foreign Remittance in Excel Forma
- E invoice missed out/not generated for FY2025-26
- Can a broker's software legally override actual po
- Startup exit in Sept 2025: Can I still save LTCG t
- Need advice
- GST registration
Related Topics
CAclubindia
