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LTCG u/s 112A error in ITR 2

644 views 2 replies

Dev

Article Trainee.

613 Points Joined July 2012

After update, LTCG is not adjusting exemption of ₹ 1 lakh .

Even if I filled schedule 112A correctly.

There is a non editable box where it is mentioned that
LTCG (5c) - ₹ 1lakh.
but it is not auto populating.
any help.

Replies (2)

rishabhsharma

Article Assistant

140 Points Joined February 2015

After updation, Rs. 1,00,000 exemption is not available in Schedule CG.

assume your final capital gain is Rs. 2,50,000. Now this 2,50,000 is transferred to Schedule SI. and in schedule SI tax will be calculated after proviiding exemption of Rs. 1,00,000.

Tax amount will be (2,50,000-1,00,000)*10%= 15,000.

* Please check schedule SI.