Which ITR should be filed ?
This query is : Resolved
24 September 2020
I am sharing income details for. Fy.2019-20.
Sale of (long term )shares ... 552500
Less : cost of acqusition 389300
Gain 163200
Less : exmpted. 100000
Taxable gain. 63200
I have other interest income 50000
No other income . Taxable income is also less then exempted salb of 250000
Gain is less then taxable limit . My query is
Whether i have to file income tax return as income is less then taxable limit ?
If yes , which ITR i have to file .. ITR -1 or ITR 2
Please advise
Sale of (long term )shares ... 552500
Less : cost of acqusition 389300
Gain 163200
Less : exmpted. 100000
Taxable gain. 63200
I have other interest income 50000
No other income . Taxable income is also less then exempted salb of 250000
Gain is less then taxable limit . My query is
Whether i have to file income tax return as income is less then taxable limit ?
If yes , which ITR i have to file .. ITR -1 or ITR 2
Please advise
24 September 2020
File ITR 2 as income before exemption exceed 2.50 lacs.
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