In one Assessee's case for AY2019-20, his LTCG is only ₹11500/- then to the form is not giving exemption and and it is taking as Income from LTCG and summing it up with other heads of income. As it is exempt iincome it should not be considered as a Taxable income if it is not crossing the limit of ₹1 lakh.
So, my question is if there is exemption on Long Term gain up to ₹1 lakh then why that amount is getting added with other heads of income if we have to fill in CG Schedule under Long term section of 112A...???
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LTCG - 112A
Replies (2)
in the computation stage it will show 0 under CG head
In TI.. it is showing under Income from LTCG
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