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Anshul Gupta

Category : LTCG on ..,
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July 23, 2018 6:36 pm
  • LTCG on stocks
Hello Amlan,

I have one query please advice.
I am salaried individual and have long term capital gain in stocks which is exempted. I would like to know which ITR form do I need to file and where do I need to show the income from long term capital gain from stocks which is exempted.
Details of LTCG :

Dat...
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Amlan Dutta
Since you have income from salary , so you can fill ITR 1 .. regarding your LTCG on equity shares, they are exempt and simply to be reported using ITR 1 ...Basically, all gains up to 31st January 2018 is exempt from levy of tax . Only LTCG gains for equity shares/Equity oriented MF units post 31st J...
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Since you have income from salary , so you can fill ITR 1 .. regarding your LTCG on equity shares, they are exempt and simply to be reported using ITR 1 ...Basically, all gains up to 31st January 2018 is exempt from levy of tax . Only LTCG gains for equity shares/Equity oriented MF units post 31st Jan 2018 shall be taxed ..Since all your gains are before 31st Jan 2018 , they are all exempt and you can show this in exempt income schedule of ITR 1 under section 10(38)....so in effect , you will fill ITR 1 and show details of exempted LTCG under nature of exempt income using section 10(38) ......
  • July 23, 2018
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Jitendra B
Any reason why Govt or Income Tax department does not allow indexation benefit on LTCG on Equity MF and Equity Stocks?
  • July 23, 2018
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Ashvin Vyas

Category : Interest..,
Solved
July 23, 2018 5:31 pm
  • Interest TDS (U/s 194 A) (10%)
Thanks for the reply Amlan, so Does that mean that i don't have to show the earning of saving interest while filing return if it is not shown in 26AS?
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Amlan Dutta
No, it means that you will have to declare saving interest under income from other sources just like FD interest...Only that you will not be filling TDS schedule 2 w.r.t saving interest because there is no TDS deducted on saving interest ...also , for saving you can avail 80 TTA benefit of lesser of...
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  • July 23, 2018
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Mahendrakumar Kolhe

Category : Taxation..,
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July 23, 2018 3:40 pm
  • Taxation of Mutual Funds
Dear Amlan,

I have below capital gain statement for Mutual fund. I want to know do we need to show this capital gain in ITR2 AY 2018-19. But Gain till 31st Jan 2018 has been grandfathered. can you please explain how this can be tackled?

Thanks in advance. #Makeknowledgefree
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Jitendra B
Amlan Dutta, One query, is it mentioned in IT policy and rules that LTCG from Equity MF and listed stocks should always be mentioned absolute gains and indexation should not be allowed on such gains?
  • July 23, 2018
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Jitendra B
Even my trading broker site is giving LTCG Equity shares gains with indexation. Only thing is they are still making reference to old CII values and not the new CII values.
  • July 23, 2018
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Ankush kaundal

Category : Arrear R..,
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July 23, 2018 2:16 pm
  • Arrear Relief under section 89
Hello Amlan,

This is regarding the arrears of Family pension of FY 2016-2017 which my mother has received in January 2018 i.e FY 2017-2018.
In the FY 2016-17 her income from FD interest was Rs.116935 so we didn't pay any tax during filing of tax as her taxable income was below the exempted limit of R...
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Amlan Dutta
I believe that it shall be treated as salary arrears because of Rule 21(A) and accordingly Annexure-1 shall be filled...

Rul...
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  • July 23, 2018
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Ankush kaundal
Thanks Amlan.
  • July 23, 2018
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