Itr-2 query for fy 2017-18 on filing short and long term gains

Tax queries 175 views 1 replies

Dear all,

I am looking for help in filling ITR-2 for FY 2017-18 and following are my queries.

  1. My EPF withdrawal is withing 5 years and hence wanted to know if same would be included on "salary from other sources" and then added to "salary". But if this is the case, then my TDS would be deducted as per my salary slab without any rebate.Is my understanding correct?
  2. I just read that the latest ITR-2 has few additional queries on intrest gained from various sources. My interest gained from savings bank is less than 10k. So am I supposed to include this amount and then ask from 10k deductions from respective clause in ITR. Kindly clarify.   .  
  3. Need help in including my dividents which is less than 10K in ITR-2. Kindly share information on the column/section in the said ITR, where it needs to be shown. I think there is excemption limit for10 lakhs.
  4. Need help in including Short term Non-equity gains in said ITR form due to MF redemption which is close to INR 1.5 Lakhs. I think TDS for same must be applied as per salary slab
  5. Need help in including Short term Equity gains in said ITR form due to share redemption from demat accout. I think Short  gains for equity is 15%
  6. In which section/column I must include Long term Equity gains without indexation? I think for FY 2017-18 long term equity are exempted.
  7. In which section Long term gains for bonds and non-equity would be included which I believe is 20(10%) for with (without)indexation
  8. Looking forward to hear from you at the earliest.

Many thanks,

Raj. (986089 5515)

 

 

Replies (1)
1. TDS is applicable if epf amount exceeds 50000, however if ur income is more than taxable limit the same needs to be included under the head salary and tax needs to be paid. Yes it is taxable as per slab rate.
2. Yes u need to include the interest from savings bank under income from other sources and claim deduction under section 80TTA to the extent of interest from savings bank or rs 10k which ever is lower.
3. Since ur income from dividend is less than 10 lacs ur dividend is exempt and u need to show it under "schedule EI"
4. Yes tax is payable as per tax slab rate.
5. Yes its 15%.
6. Yes LTCG on which STT is paid is exempt till March 18.
7. I dont remember exactly but it should be probably A5 of "schedule CG" which starts like "... other than A1 to A4....."
8. Opps i read it earlier but didn't reply because it was too long and i wad feeling lazy.


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