Categories
Pagination Scroll
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.
  • Show Placeholder
  • Hide Discussion
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
  • ·
  • Like
  • ·
  • Select as Answer
Jitendra B

LTCG on stocks...
LTCG on Equity MF and Listed Shares should be shown absolute or Indexed gains?
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
Absolute gains and not indexed gains .......
  • July 24, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Jitendra B
Thanks, any reference and guidelines to this from tax department?
  • July 24, 2018
  • ·
  • Like
  • ·
  • Select as Answer
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...
  • Show Placeholder
  • Hide Discussion
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
  • ·
  • Like
  • ·
  • Select as Answer
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
  • ·
  • Like
  • ·
  • Select as Answer
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
  • Show Placeholder
  • Hide Discussion
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
  • ·
  • Like
  • ·
  • Select as Answer