Which itr to be used

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Which ITR form is to be used if income is from pension, nontaxable LTCG from shares with stt paid and bank interest. The long term capital gain is of Rs.18000. Some have answered as ITR2. I am not getting convinced by this answer.I am confused why itr2. Some body please explain. Why can't non-taxable LTCG below threshold of one lac be shown as exempt income on itr1 u/s 112A

Replies (4)

You have to use  ITR 2 only

The ITR-2 Form is a type of ITR form which is generally used by individuals who have accrued income through the sale of assets or property. Also, this form is useful for individuals who earn income from countries outside India. In most cases, individuals or Hindu Undivided Families (HUF) can avail of this form to file their IT returns. This form is applicable for the following persons:

  • People who earn income through salary or through means such as pension

  • A person whose source of income is through the sale of assets or property in India i.e. capital gains

  • A person who tends to earn income from more than one housing property

  • People who don’t earn money from any business venture

  • A person who own assets in countries outside of India

  • People who earn income from countries outside of India

  • A person whose income from agriculture is above Rs 5,000

  • A person who gets his income from any windfall like lotteries or horse racing

Yes... ITR 2 is suitable for You.
But where can I show this 18000 as LTCG in ITR 2. In CG schedule or in exempt income schedule

Schedule CG of ITR 2. Better consult an expert if not able to understand the issue.

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