Nse Feed (13 Points)
19 July 2019Hi,
Do we need to include long term equity gain accrued till 31-Jan-2018 as exempt income in ITR?
For example I purchased 1 lac worth of equity shares on 1-Jan-2010. It's value on 31-Jan-2018 was 10lac. I sold the shares on 15-July-2018 for 10 lac. So there is no taxable long term gain here. But in reality I have gain of 9lac. Do we need to show this amount as exempt income in ITR?
Thank you.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177972 Points)
Replied 20 July 2019
You have to declare these details (scriptt-wise) in schedule 112A of ITR 2 or ITR 3, where it will automatically calculate nil LTCG on equities.
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