My mother is Pensioner and used to file ITR-1 for income tax processing. In 2015 she had invested Rs. 25000 in a equity mutual fund and redeemed it last year (October 2019) with capital gain of Rs. 1514.
My question is, how should she show this Long term Capital gain (of Rs. 1514) in ITR-1? Should it be under “Other income” head or under “Exempt Income”? OR Does she need to file ITR-2 for this partly amount altogether? Note that her Net Taxable income (after exemptions) is less than 2.2 Lakhs, but needs to file return to get refund back for TDS deducted on a term deposit).
CAclubindia
