Which form to File ITR1 or ITR2 with non taxable capital gain

801 views 5 replies

My wife (home maker having only interest from FD and dividend from Mutual Funds) sold one Mutual fund in april 2024 making gain of 94000 and sold one share in december 2024 making a loss of 34. can she combine these entries into a total of 93966 in ITR1 or should she file only ITR2 with separate entries.

Replies (5)

@ Venkatesan V

It is clearly mentioned on I-T Efiling Portal, that for AY2025-26, for Capital Gains upto 1.25Lakh ITR-1 is to be used.

Thanks,

This is the first time we have capital gains/loss transactions and wanted to be sure that the capital gain/loss transactions can be summed up to a single entry in ITR1.

Only worried that IT Dept  should not later say that wrong ITR filed and ITR2 to be filed giving the full details etc.,

@ Venkatesan V.

Forgot to mention :-

The capital gains for using ITR-1 must be LTCG.

If gains are STCG then ITR-1 not being allowed and filing with ITR-2 is a very tough task now. Refer many other threads about ITR-2 filing problems.

I already replied to your pvt msg

For AY 2026-27, CBDT has updated ITR-1 to allow LTCG from listed shares or equity mutual funds if the total gain is up to Rs. 1.25 lakh. So if your capital gain is long-term, below that limit, and from listed equity, you can use ITR-1. You still need to disclose it under the exempt income section. If the gain is short-term, or crosses Rs. 1.25 lakh, you need ITR-2.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details