Long Term Capital Gain on Shares less than Rs 1 lakh & ITR

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Q & A Forum › Category: Stocks/Shares › Long Term Capital Gain on Shares less than Rs 1 lakh & ITR
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nansigovind asked 7 years ago
Hello Mr.Sreekanth We have capital gain on sale of shares less than  Rs.1 lakh, Please let us know whether we can exclude this amount from disclosure, as it is exempted from tax and file ITR1 for salary income. Else, should we compulsorily file ITR2 duly showing the capital gain amount in ''Exempt Income" tab in the Excel sheet of ITR2. Thanks Narasimhan
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Sreekanth Staff answered 7 years ago

Dear Narasimhan,
You have to disclose the Capital gains in your ITR.
Though it is not taxable, it has to be disclosed in ITR 2 under Schedule CG Part B, point 4(d).

 

nansigovind replied 7 years ago

Thanks a lot.
Narasimhan

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