Sir,
I have entered all the shares detail in 112A for the LTCG and gain coming around 15000/ but in the tax page it is taking for the tax calculation. I know that till 1 LAKH no tax.. The 15000/- value is coming in the below box.
| Long-term chargeable @ 10% (9vi of item E of schedule CG) | bi | ||
Can you please help me to correct it. Am I missing something ?
Thanks
Thanks for the immediate response sir.
In ITR2 Part B - TI section under 3 (b)
i. Long-term chargeable @ 10% (9vi of item E of schedule CG)
Hi,
In Part B TI, All incomes & gains under each head will be shown, but LTCG of 15000 will not be taken for calculation (Check S.no. 10 in Part B TI- is there any amount visible in that row?)
Sri Ram,
Thanks for the reply.
Yes it is showing in Part B TI Sl No. 10 as
Income chargeable to tax at special rate under section 111A, 112, 112A etc. included in 9
Am I missing something some where.
Thanks
Palani
Hi,
Kindly Check Part B TTI Schedule- there won't be any tax calculated w.r.t the capital gains u/s 112A.
(Check 2B in Part B TTI Schedule)
Thanks Sri Ram,
Have gone thru all the section one by one and confirmed that It is not showing in Schedule SI under 112(A). I am clarified.
one more question.
Do we need to show last year IT refund amount under Schedule OS "From Income Tax Refund" though it is very small amount. I think we have already paid tax for this amount last year know. Can you please clarify.
Thanks
Ok Sri Ram. This helps.
Thanks
Was this query resolved? I am seeing the same error. It shows me LTCG of Rs 12000 taxable when I fill up the details in schedule 112A?
CAclubindia
