Rekha (House Wife) (9 Points)
22 July 2018Colleagues,
My spouce is housewife. No any income. I transfer money in her S/B A/c. then transfer DMat A/c. & procured some shares. She gain LTCG 4L & STCG 28K. Is it required to fill ITR? & if yes, than which ITR form should fill. How can I save tax in such case?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195728 Points)
Replied 22 July 2018
ITR 2
LTCG over equity tax-exempt.......
STCG will be clubbed in your (husband's) return, taxed at 15%.
Rekha
(House Wife)
(9 Points)
Replied 22 July 2018
Wow, what a instant reply. Thanks sir.
One more doubt. I don't have any income except trading. Should I file ITR.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195728 Points)
Replied 22 July 2018
Yes, due to transactions in the trading account..... and due to CGs, query would be raised.
Rekha
(House Wife)
(9 Points)
Replied 24 July 2018
Sir, what is indexation benefit? Could any one elaborate & give example of LTCG /STCG indexation benefit & w/o indexation benefit.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195728 Points)
Replied 24 July 2018
Rekha
(House Wife)
(9 Points)
Replied 24 July 2018
excellent sir.
Sir, I would like to ask two more querries-
1. I got leave encashment of 96K & other exgratia of 168K after resigning from my current job in March-18. I got this amount in Apr-18. Should I add this amount in my current year earning? Is it exempted in any section? Pl. advice.
2. There is a difference of 60K in my FORM-16A & 16B received from employeer. 16A shows 60K excess gross income. I had contact with employeer. He says that I can't do that. Pl. give your opinion....
Rekha
(House Wife)
(9 Points)
Replied 25 July 2018
Pl. help me .............
1. I got leave encashment of 96K & other exgratia of 168K after resigning from my current job in March-18. I got this amount in Apr-18. Should I add this amount in my current year earning? Is it exempted in any section? Pl. advice.
2. There is a difference of 60K in my FORM-16A & 16B received from employeer. 16A shows 60K excess gross income. I had contact with employeer. He says that I can't do that. Pl. give your opinion....
CAclubindia
