Hello friends I generally fill up ITR 1 for income tax submission of income from salary. This year I only earned STCG from sale of equity of amount 750. Can I fill up ITR 1 this year also and ignore the small amount earned from STCG. Or I have to fill up ITR2 mandatorily.
STCG income during the year means ITR2 form must be used.
Had the gains been LTCG, you could have used ITR1.
LTCG from equity shares and equity MFs where holding was 1year and above are Exempted. ITR1 has section to mention such exempt gains.
Going forward, such gains if less than 1 lakhs then ITR1 applicable. Else if above Rs 1 lakhs then ITR2 will be required.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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