Exempted incoem ( e i ) schedule

How to report the grand fathered income on the sale of long term equity  shares ,,  which is exempt from Tax in ITR  schedule ? 

Replies (2)
Now LTCG is exempt upto 1 lakh only. Capital on sale you have to under CG schedule.

My  query is that  when every type of income is to be reported in ITR whether it is taxable or exempt from tax..

Earlier we are reporting CG income from long term equity shares in Exempt income,

Even now  the long term income accrued till 301-01-2018 is exempt as it now called as grand fathered  and  the balance income is now only taxed . . I For example I earned  actual income of  Rs 23,,800 (  sale value - actual purchase ) 

 After calculating the taxable gain as per the new formula ,the taxable gain is Rs 12,500 ,

The remaining income of Rs 11,300 is exempt  and did not suffer any tax  and where to show this  in ITR. 

Hope I explained and I do not know whether there is any flaw in my observation.

 

 

 

 

 

 

 

 

 

 

 

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 17 August 2026
Article Assistant

Jain Ankit and Co

Gurgaon

CA Inter

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
18 August 2026
CA Semi Qualifies

Goyanka and Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 17 August 2026
CA Article Trainee

ASC Group

Noida

CA Inter

View Details
Company
08 September 2026
Audit Executive

Thammana & Associates

Srikakulam

B.Com

View Details
Company
ARTICLESHIP 17 August 2026
Article Assistant

K R Kiran Kumar & Associates

Bengaluru

CA Inter

View Details