Ltcg

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 August 2018 Hi
I am a house wife having only an interest income and Long Term Capital Gains by selling Equity Shares in FY 2017-18. (Shares acquired in 2007 and sold in Dec 2017 and total LTCG was around Rs 36000).
While filing my return, which form should i use?
In case i have to use ITR-2, do i need to show these gains in ITR? If yes, where in CG section?

regards

Nikhil Kaushik

Nikhil Kaushik (Expert)
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15 August 2018 in EI sheet (exempt income)

Querist : Anonymous

Querist : Anonymous (Querist)

15 August 2018 Thanks...so i choose ITR-2 but show this income in the EI Sheet? or should i use ITR-1?

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 August 2018 i think ITR_2. The instructions to ITR-1, clearly say that you cannot use ITR-1 if the assessee has Income under the head “Capital Gains” e.g., short-term capital gains or longterm capital gains from sale of house, plot, shares etc

Querist : Anonymous

Querist : Anonymous (Querist)

18 August 2018 Thanks Mr. Nikhil. One last point.... what should be the treatment of Long Term Capital Loss on listed equity Shares while filing the returns for losses incurred before 31st Dec 17? Where should this loss be shown if at all?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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18 August 2018 it doesnt have to be shown at all.

Querist : Anonymous

Querist : Anonymous (Querist)

18 August 2018 Many thanks for your prompt replies