Itr form

for (1) ITR-2 is required for the following Income -Salary, -HP, -other sources -Capital Gain. -Any Foreign Income , - Agriculture Income. For(2):- Yes, he is required to compute Income from Capital gain. But please check whether the shares are sold through Recognized stock exchange and STT would have been paid, then is that case Long term capital gain is exempt u/s 10(38). Also note :- Capital gain would be Long term in all the cases if the Equity Share is of Listed company or Unlisted company because the period is 12 Months or 24 Months respectively for that purpose.

ITR-2

AND IF THE SHARE IS LISTED , THE INCOME IS EXEMPT U/S.  10(38) SO INCOME IS NOT TAXABLE.