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ITR 1 OR ITR 2 query

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Sathya Narayanan

26 Points Posted on 27 August 2021

My aunt is getting family pension and filing itr1 for two three years. She invest in elss scheme rs 1 lakh on 2018 with lock in period of three years and got credited to her account on Feb 2021. Income from elss for rs 400 is deducted and shown in 26 As. Do it is a long term capital gain and want to file ITR 2 or ITR 1 is sufficient, please clarify.

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Quick Summary

This discussion addresses a query regarding the correct Income Tax Return (ITR) form for an individual receiving a family pension and having invested in an ELSS scheme. The user is unsure if their ELSS investment, matured after a three-year lock-in, constitutes a long-term capital gain, and whether ITR 2 is necessary or if ITR 1 suffices. The advice given is to file ITR 2, specifically filling out sections for Capital Gains (CG) and Section 112A.