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LTCG below 1L
LTCG on redeemed Eq MFs is less than 1 lakh. Do I have to still show in ITR2? if not, then where do I show the redeemed amount value received from mutual fund house?
Replies (4)
one lakh limit is only for tax liability. you should disclose such LTCG along with other income earned in respective ITR applicable to you
Thks but confused. If I show as "Other Income" then I will have to pay tax on it. (then what is the no tax on LTCG upto 1L)
My LTCG for equity mutual funds comes to 29500.
My LTCG for equity mutual funds comes to 29500.
what I mean is that LTCG 29500/- should be shown in ur Income tax return under head INCOME FROM CAPITAL GAINS & tax liability on that income will be nil as it doesn't exceed 1 lac limit.
now its very clear... excellent !
Thanks to all of you
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