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ITR efiling

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KRN

4 Points Posted on 09 March 2022

I am a salaried person and had some small amount of STCG and loss of LTCG. While filing ITR-2 online, I could enter the STCG details but, unable to enter the LTCG loss. Moreover, I paid interest on housing loan, which is not getting deducted from the overall income.

Request the experts to guide me in entering LTCG loss as well as deduction of Housing loan interest.

K.R. Narasimhan

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Quick Summary

This discussion addresses common challenges faced when e-filing ITR-2, specifically for salaried individuals. The user is seeking guidance on how to correctly report short-term capital gains (STCG) and long-term capital losses (LTCL), as well as how to claim deductions for housing loan interest. Expert advice clarifies that housing loan interest can only be set off against salary or house property income, not capital gains, and that the principal repayment is adjusted under Chapter VI-A. Rules for setting off and carrying forward capital losses are also highlighted.