Capital gains in a financial year

which form of return is to be filed,ie form 1 or 2,if total capital gains in a financial year comes below 1laks
Replies (4)
Quick Summary
This discussion clarifies the correct Income Tax Return (ITR) form to file when capital gains for a financial year are below £1 lakh. It confirms that ITR Form 2 should be used in such cases, and no tax is typically required. However, if your income also includes earnings from a business or profession, you will need to file ITR-3 instead.

File ITR 2 ........                  

No tax required short term or long term

Taxpayers must file an Income Tax Return (ITR) for capital gains by submitting ITR Form 2 to the Income Tax Department. However, if your total income for a financial year includes earnings from business or profession, you are required to file ITR-3 as the income tax return for capital gains.

Post values

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
24 August 2026
Semi-Qualified CA/CA Finalist - Tax, GST, Audit & Accounts

Bharat Shah & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
08 August 2026
International Corporate Tax Advisory

Shulke

Bengaluru

CA

View Details
Company
ARTICLESHIP 08 August 2026
Article Assistant

Sanath Sheshagiri & Co.

Bengaluru

CA Inter

View Details
Company
11 August 2026
COMPLIANCE EXECUTIVE

YMW COMPLIANCE SERVICES LLP

Others

CA Final

View Details
Company
14 August 2026
Semi Qualified

Goyanka & Associates

New Delhi

CA Inter

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details