AIS shows long term capital gain on equity mutual funds unit of 1200 Rs. Where to show it?
I understand this will be exempt from tax since it is less than 1 lakh? If yes, how to report it in ITR.
AIS shows long term capital gain on equity mutual funds unit of 1200 Rs. Where to show it?
I understand this will be exempt from tax since it is less than 1 lakh? If yes, how to report it in ITR.
Fill the details in 'Schedule 112A'
When filling the details in 112A portal is charging tax at 10%, but Rs 1200 should be tax exempt since units were bought before 2018. What to do?
If bought before 31.01.2018, fill the grandfathered NAV as on the date. It will reduce the tax liability.
Grandfathered value has been entered, but it shows 10% tax in CG schedule. Shouldn't 1200 Rs be exempt of tax considering it is much below the 1 lakh limit?
Yes, it is only for calculation purpose. Finally check under Schedule TTI, it will not be taxed.
Yes, checked and it hasn't been taxed. Thank you!
You are welcome.
Yes, but you are not able to fill that in that tab. While with Grandfathered rate on or after 31.04.2018, you are able to file the correct capital gain. If questioned, you have the capital gain statement from UTI AMC. Verify the entries in AIS report.
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