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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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rupali

INCOME SCHEDULE - CAPITAL GAINS...
where to show Capital Gains from sale of jwellery in ITR 3 ? i meant in which exact column.
because under the head Capital gain there are specific columns for CG from land building , shares etc but couldn't find the option for jwellery.
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NAWNIT KUMAR

INCOME SCHEDULE - CAPITAL GAINS...
Hey! I bought some property few years back and sold that in last FY, and bought another property in my wife's name. Do I need to pay tax for the total amount of property?
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Amlan Dutta
It is preferable to buy property in your name ...anyways , if you have invested the capital gains in the new property , you can still benefit of capital gains exemption.......
  • August 7, 2018
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ujjwal saveliya

INCOME SCHEDULE - CAPITAL GAINS...
Sir, I am salaried person but i am doing trading and investment in share market and fill form -ITR-2. i loss in short term around -10704 rs. total value consideration 113878918 and cost of acquisition without indexation is 113859899 expenditure is 29723 rs. turnover is around 5096409 rs. my questio...
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Amlan Dutta
1.)Separate delivery based trading from F&O ....Delivery is treated as capital gains

In this case (of capital gains), there is no question of audit, whether be it for gains or losses since there are no books to be maintained (audit is just for books maintained under professional or business head)

F&O...
  • August 6, 2018
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deepak
Amlan Jee Pls a video on shares showing losses and how it would be adjusted for delivery shares i had also requested you long time back
  • August 6, 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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Prasad Shirodkar

INCOME SCHEDULE - CAPITAL GAINS...
Dear Sir:
My mother and my father had joint shares of Bayer India Ltd (Either or Survivor mode). My father expired in 2010. If the shares are now transferred on my mothers name what is the tax liability for my mother?
Thanks for your earlier help!
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Amlan Dutta
If gains were transferred vide inheritance , then no tax ...however income on those shares will taxed in the name of the holder of those shares...better to sell it and buy fresh in assesses name.....
  • July 26, 2018
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Vinod

Sale of House property...
Sir,
Please advice on the Cost of acquisition with indexation (ITR2 - LTCG)
Buy: Sale Agreement - Date: 10Nov2006 Amount: Rs.25,86,000/-
Sale Deed - Date: 7Jun2008 Amount: Rs. 14,17,000/-
Sell: Sale Agreement & Deed in Nov2017 for Amount Rs.38,00,000/-
What value(Amount and CII) to be considered...
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Amlan Dutta
For sale, deed price or stamp valuation price whichever is higher shall be considered as per provision of section 50C..For purchase, cost of acquisition has to be considered......Check attached cost inflation index chart ...assume for a moment cost price is 14.17 lakhs in FY 2008 (when CII was 13...
For sale,  deed price or stamp valuation price whichever is higher  shall be considered as per provision of section 50C..For purchase, cost of acquisition has to be considered......Check attached cost inflation index chart ...assume for a moment cost  price is 14.17 lakhs in FY 2008 (when CII was 137)...now check CII in the year of sale to figure out CII factor for figuring out indexed cost for the year of sale ....since,  you have sold it now in FY 2017 18 ,, we check CII for FY 2017 18 which is 272 ...so , indexed cost price is 14.17  x  (  272/137) i.e 14.17 x 1.98 = 28.36 lakhs...since property held for more than 2 years you are eligible for capital gains.....For sale,  deed price or stamp valuation price whichever is higher  shall be considered as per provision of section 50C..For purchase, cost of acquisition has to be considered......Check attached cost inflation index chart ...assume for a moment cost  price is 14.17 lakhs in FY 2008 (when CII was 137)...now check CII in the year of sale to figure out CII factor for figuring out indexed cost for the year of sale ....since,  you have sold it now in FY 2017 18 ,, we check CII for FY 2017 18 which is 272 ...so , indexed cost price is 14.17  x  (  272/137) i.e 14.17 x 1.98 = 28.36 lakhs...since property held for more than 2 years you are eligible for capital gains.....
  • July 24, 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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