ITR 2
Ltcg below one lac and itr1ay(19-20)
Page no : 2
Malhar Deshpande
(212 Points)
Replied 07 May 2019
Today I made a phone call to helpdesk @ trpscheme.com staff of income tax department. They told that if long term capital gain from shares is taxable then you use ITR2. Perticularly in my case he told that as your LTCG is not taxable hence you use ITR1. I told him that as per instructions of itr1 person having income from capital gain should not use itr1. Then he said perticularly that if gain is taxable then you cannot use itr1. In my case gain is below one lac which is non taxable so use itr1.
M Aiyyar
(learner)
(280 Points)
Replied 07 May 2019
Yes, that is good option to attract notice from ITD afterwards (because of information of sale of units and hence capital gains), and than clarify that the capital gains is below 1 lakh, rather than declaring the same at first option!
Surinder Kumar
(59 Points)
Replied 12 August 2019
You can file your return in ITR2 only. Because you have LTCG. This has to be shown in ITR however it is exempted if below Rs.1 lakh but has to be declared.
Recent Topics
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
Related Threads
CAclubindia
