Ltcg below one lac and itr1ay(19-20)

573 views 22 replies
User Avatar

219 Points Joined May 2016

How can I show LTCG from sell of listed shares in ITR 1 for AY (19-20) The amount of gain is below one lac. Hence it is non taxable.So it should come under exempt income section. But there is no option for this in new itr1form and ITR1  is only suitable for me. If I choose "Any Other" option from drop down menu, what should I write in descriptttion column. Please guide me on this. Earlier I asked this query, but expert advise was to wait for ITR2. Now ITR2 is available.

Thank you

Malhar Deshpande

 

0 Reply Share Follow
On 05 May 2019 at 15:03 Report
Replies (22)
User Avatar

SEO Sai Gr. Hosp.
198401 Points Joined July 2016

ITR1 not applicable.

Study the Schedule CG of ITR2.

3 Reply
On 05 May 2019 at 18:15
User Avatar

219 Points Joined May 2016
Why ITR 1 not applicable Sir? in both itr under exempt income I can show LTCG below one lac in any other option.
Reply
On 05 May 2019 at 21:21
User Avatar

219 Points Joined May 2016
Why ITR 1 not applicable Sir? in both itr under exempt income I can show LTCG below one lac in any other option.
Reply
On 05 May 2019 at 21:23
User Avatar

219 Points Joined May 2016
Where can I show LTCG below one lac in ITR2
Reply
On 05 May 2019 at 21:33
User Avatar

student
329 Points Joined December 2018

LTCG from equity is not exempt now, its taxable u/s. 112A of IT act.

Fill the details in relevant column of Schedule CG of ITR 2 or ITR3.

3 Reply
On 06 May 2019 at 14:48
User Avatar

219 Points Joined May 2016
No ltcg below one lac is exempt
Reply
On 06 May 2019 at 14:50
User Avatar

219 Points Joined May 2016
No ltcg below one lac is exempt
Reply
On 06 May 2019 at 14:51
User Avatar

student
329 Points Joined December 2018

Yes, but under which section?

1 Reply
On 06 May 2019 at 14:53
User Avatar

219 Points Joined May 2016
Under 112A
Reply
On 06 May 2019 at 14:56
User Avatar

student
329 Points Joined December 2018

That is taxable, not exempted.

4 Reply
On 06 May 2019 at 14:57
User Avatar

59 Points Joined June 2017
LTCG from equity and mutual fund is taxable, if the amount is more than 1 lakh and only the amount which exceeds Rs. 1akh u/s 112A.
Reply
On 06 May 2019 at 16:23
User Avatar

219 Points Joined May 2016
That means there is no section by which we can say that the gain below one lac iis exemptef
Reply
On 07 May 2019 at 06:40
User Avatar

student
290 Points Joined November 2018

No. Section 112A itself has exemption limit of 1 lakh. Any gain above and above one lakh is taxed at 10% flat.

7 Reply
On 07 May 2019 at 09:09
User Avatar

219 Points Joined May 2016
So which itr is correct if income is from pension bank interest and LTCG which is exempt i.e.below one lac
Reply
On 07 May 2019 at 10:04


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading