As we know after introduction of 112A, LTCG below 1 lakh is tax free. But how do we disclose it in ITR?
When I fill schedule 112A it calculates my LTCG and shows a taxable amount of Rs 1221. This 1221 actually gets carried forward in tax calculation and tax is calculated on it as special rate tax.
However, as we know there should be ZERO tax on it. So how to show it?
I don't think its a software glitch as the same is seen in excel utility of AY 20-21 & online utility of AY 21-22.
Experts please guide.
CAclubindia
