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deepak

Category : STCG on ..,
Solved
Dear Mr Amlan Ji,
Good Afternoon
first a very thankful to u for guiding me to file a return since last five years,now a general question if i incurr a share loss short term and i do not wish to carry forward can i simply fill itr 4 instead of itr 3.
Sir i am sorry to post the question before in wrong s...
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Amlan Dutta
Please clarify whether losses are from 1.) Delivery based trading or 2.) Intraday /future and options...In case you have made losses in delivery based trading , you can show short term losses from capital gains and file ITR 2... ...
deepak
Sir thanks for the prompt answer shares are basically from delivery loss but i have bussiness income from shop and also show some income from other source also pls guide i donor wish to carry forward the loss its a small amount
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...
Nrupal Save

Category : STCG on ..,
Solved
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 ... ...
SUMAN CHATTERJEE

Category : LTCG on ..,
Unsolved
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...
Rakesh

Category : STCG on ..,
Solved
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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Amlan Dutta
From my studies, i observe that you are required to show only the net gain in the corresponding quarter ...say, you had incurred loss of 10 rs and profit of 20 Rs , you will only show net gain of 10 Rs and the corresponding quarter in which it occurred .... You would like to take a second opinion ....
Rakesh

Category : STCG on ..,
Solved
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...
Jitendra B

Category : LTCG on ..,
Solved
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 .......
Jitendra B
Thanks, any reference and guidelines to this from tax department?
Malharrao Deshpande

Category : STCG on ..,
Unsolved
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...
Anshul Gupta

Category : LTCG on ..,
Solved
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) ......
Jitendra B
Any reason why Govt or Income Tax department does not allow indexation benefit on LTCG on Equity MF and Equity Stocks?
rohit

Category : LTCG on ..,
Solved
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
SANTANA SINGHNIA

Category : STCG on ..,
Unsolved
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

Category : Stocks (..,
Solved
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
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...