Exemption u/s 10(38) and reflection in return

Dear Kunal, yes according to 10(38) income is exempt on the capital asset is either an equity share in company or a unit of an equity oriented fund. ( and STT is paid on it and should hold it as a capital asset) while filling your return the exempt income should be shown in EI schedule so I recommend you to go for itr2. There I think they have this schdl for exempt income. I hope this ans is satisfactory to you.

Dear Manoj, Thanks for your prompt and precise reply. Regards Kunal

Dear Manoj, As per your advice I checked up the ITR 2 Form. There under the LTCG there is no mention of deduction u/s 10(38). It only talks about deductions under various subsections of section 54. All of them I found are about residential property or land or agricultural land. Kindly Advice Regards Kunal

Dear Kunal, You don't have to show under LTCG income but show in item no. 3 of Schedule EI in Page 11 of 14 of ITR2 if it is a listed compamy and STT has been paid while selling the shares.