Exempt LTCG issue in ITR-2 Java utility for AY 2020-21
This query is : Resolved
12 July 2020
Respected experts,
I am preparing my ITR for AY 2020-21 using ITR-2 java utility from incometaxindiaefiling.gov.in. I have entered 3 transaction of LTCG in schedule 112A, total LTCG being Rs 21000. Schedule CG and B-TTI are populated without considering Rs one lakh of exempt LTCG, i.e in B-TTI the LTCG should be zero, but it appears as 21000. Please help on what I am missing.
I am preparing my ITR for AY 2020-21 using ITR-2 java utility from incometaxindiaefiling.gov.in. I have entered 3 transaction of LTCG in schedule 112A, total LTCG being Rs 21000. Schedule CG and B-TTI are populated without considering Rs one lakh of exempt LTCG, i.e in B-TTI the LTCG should be zero, but it appears as 21000. Please help on what I am missing.
12 July 2020
It was my mistake. The exempt amount of LTCG 100000 is considered while calculation tax. It's visible in B-TTI and SI.
05 November 2021
Final tax liability under LTCG, would be nil
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- PAN Migration to New AO
- Tax implications of gift to maternal uncle
- How to open attachment in 23ac xbrl
- Gifts in cash
- 26QB correction - no data available error for fully consumed/processed with default
- Input Tax Credit Puf panels
- Excess TDS Paid - Form 26QC
- Capital gains LTCG
- TDS on Purchase of Immovable Property in case of Co Owner
- Demand due to error in 3cd
- Real Estate Transaction Structuring with Power of attorney & Beneficial Ownership
- ITC available on QIP Expenses
- EBRC Generation
- AS-16 Treatment of Borrowing cost for land and building
- HSN Wise Summary Reporting in GSTR-1
- TDS on Payment to Non-Resident by Resident Foreign Entity
- HOW TO CALCULATE FOOD CHARGES
- Travel Agent Charges 5 GST without ITC. Can he raise invoice18 on Service Fee for Flight Tick
- Income tax planning
- Please help with SAC Codes (6 digits) for below mentioned services provided by Chartered Accountant
Trending Online Classes
-
Certification Course on GSTR-3B Reconciliation with GSTR-2B through Chat GPT
CA Deepak Gupta26 April 2025
CAclubindia
