Hi All,
I am a regular tax payer and use ITR2 for filing the tax. I have few questions.
1. I am carrying forward a loss of Rs 10L and this year have a LTCG of 3L. Now this 3L gets offset against the 10L loss of previous year and a remaining loss of 7L is carried forward. In such situations, is the 1L exemption limit of LTCG not considered ? Meaning, that instead of considering 3L in LTCG, the system should assume only 3-1 = 2L as LTCG and carry forward 8L as the net loss for furure years ?
2. How do we get the rebate of 20% on Dividend income through the interest paid towards margin amount to broker . In the latest income tax portal 2.0, I do not find an option to adjust Dividend amount by any interest paid
3. Finally, the interest paid by us to broker on the Margin amount - Does income Tax dept have any provision to get rebate on it ?
Would be great if someone could guide me
CAclubindia
