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RAVIKUMAR JENTIBHAI NAGAR

Hello sir,
In ITR 3 when I get short term capital gain which tax I pay 15% or as per slab ?
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Amlan Dutta
STCG (Short term capital gains on equity ) is specified income and shall be taxed at 15% ....It does not attract slab based taxation , though it gets adjusted for minimum threshold level and if total income falls below threshold level, there shall be no taxable liability ...example say one has on...
  • September 5, 2018
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Nrupal Save

STCG on Stocks...
Hello Amlan,

Thank you for your information on website and youtube videos. Using this I am easily able to fill in ITR1 as I have salary income.
Additionally, I had some LTCG (gain of 12,433) and STCG (Loss of 9,659) in FY 2017-18. All the transactions yielding the LTCG (gain) and STCG (loss) have ta...
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Amlan Dutta
Loss from short term equity delivery is a capital loss .....The income schedule representing capital gains/losses is not present in ITR 1 ... it is present in ITR 2 ......for showing gains or losses from capital gains( from stocks or otherwise) you will have to use ITR 2 ... ...
  • August 31, 2018
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SUMAN CHATTERJEE

LTCG on stocks...
Hello Amlan - I understand LTCG upto 1L p.a is exempted. So if I have,
LTCG from stocks - 90k (Before 31/01/18)
LTCG from equity MF - 30k (Before 31/01/18)
How should I file this in ITR2? Only Fyi, My Residential status will be NRI.
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Amlan Dutta
All long term capital gains from equity stock as well as equity mutual oriented funds for residents as well as non residents shall be exempted from levy of tax for all gains before 31.01.2018 ....You can report this in exempt income schedule of the ITR 2 ( had it been FY 2016 17 this was possible to...
  • July 26, 2018
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Rakesh

STCG on Stocks...
Ok sir thanks a lot.but sir 1 querry is here.for example i have 4500 rs stcg and also some loss stcg loss in equity share.so it will auto matically setoff and remaining gain will be my gain.sir i have to show quartely breakup of original 4500 rs or the amount which is showing after setting up short ...
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Rakesh

STCG on Stocks...
Amlan sir i am facing an error in java utility when filling ITR 2.as i have some short term capital gain from debt oriented mutual fund as i have fill the figures in sch cg in section A5 assets others than a1 or a2 or a3 or a4 but now java utility i am facing an error of quarterly breakup shown in s...
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Amlan Dutta
The breakup of STCG quarter wise should exactly tally up to the STCG as shown in the CG schedule else the return won't validate ...say i have shown STCG from debt mutual funds as 100 Rs , then i have to denote the period where i have earned the 100 Rs ...if i show 80 Rs , then obviously the return w...
  • July 26, 2018
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Jitendra B

LTCG on stocks...
LTCG on Equity MF and Listed Shares should be shown absolute or Indexed gains?
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Amlan Dutta
Absolute gains and not indexed gains .......
  • July 24, 2018
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Jitendra B
Thanks, any reference and guidelines to this from tax department?
  • July 24, 2018
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Malharrao Deshpande

STCG on Stocks...
Sir, If one has stcg of rs.20000 during ay18-19 and 1000 as short term capital loss during ay 17-18 and this loss is carried forward for 18-19. in last year's itr. Now if you show stcg of 20000 in A2e of cg schedule of ITR2, the same is reflected in CYLA 4iv and 3iii of BFLA but if there is loss o...
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Amlan Dutta
i will not be personally studying the ITR for the mentioned fields or discussing the functionalities fields etc in this platform . if the same question is presented as to know why a certain concept doesn't hold valid etc , i will take a look but i will not indulge in studying the ITR etc due to lac...
  • July 24, 2018
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Anshul Gupta

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...
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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rohit

LTCG on stocks...
if income ONLY from longterm capital gain 4,45,000 rs ( NO intraday , NO fno , NO shorterm ) dividend income 35,000 HOW MUCH tax is applicable and he file itr 2 or itr 3
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Amlan Dutta
Dividend fully exempt , when was this LTCG realised ...until dates provided , i can't comment ...if it was before December 31st 2017 , then this too is exempt and simply ITR 1 can be used and both declared under exempt income reporting section
  • July 22, 2018
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SANTANA SINGHNIA

STCG on Stocks...
Hi Amlan I have short term capital gain from buying & selling ( delivery)shares and the overall gain for the year is 1 lakh .( Full value consideration--17 lakh ,,, cost of aquisition 16 lakh).
But I have capital gain like following fashion
Up to 15/6-- 30000(gain)
16/6--15/9--10000(loss)
16/9--15/12--8...
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Debkanta Paul

Stocks (delivery)...
Hi Amlan I am doing intraday & delivery based trading and I want to show them as business income .
1)Then what will be my total turnover?( Is it the addition of intraday + delivery turnover)
2) If the total turnover is less than 2 crores but more than 20 lakhs and I want to opt for Presumtive scheme 4...
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RAJ
1) add both T.O
2)fill ITR 3
  • July 10, 2018
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Amlan Dutta
1.) Delivery trades are not considered in business income , rather it is a part of capital gains

Only intraday or Future and options contracts entered into are to be used for turnover computation ...ITR 4 can't be used if income from capital gains is there( However if such is exempt than it can be...
  • July 10, 2018
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AYUSH

STCG on Stocks...
Hello amlan, in year ending 31 march 2018 I have done some intra day trading In few I gain profit and few I gain loss the ultimate.. Aggregate of all transactions is a loss I want to file itr3 can you please tell me where I can show this in my itr 3 if possible short term transaction tax.
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Amlan Dutta
This has to be treated as business income ....you will fill up income statement accordingly to reflect loss , however note that in this case then you are bound for audit since income (Loss) will be less than presumptive value............
  • July 9, 2018
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