When filling up ITR2 for my son who is having both salary income as well as income from selling shares which I have shown under CG - Short term Capital Gains 111A and also filled the breakup under Information about receipt of Capital Gain - Point 1. - Short term capital gain taxable at 15% flat rate. The Tax working in ITR 2 shows as Gross Income including STCG and rate of income tax is calculated at usual applicable rate. It does not calculate 15% on STCG amount entered. Can somebody help where I am committing mistake?
4 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177741 Points)
Replied 13 September 2021
1. Check that the schedule SI is confirmed.
2. The short term capital gain is taxed at slab rate, till the basic exemption limit is exhausted. Only after that it is charged at 15% rate.
ramdoss m
(122 Points)
Replied 13 September 2021
| Originally posted by : Dhirajlal Rambhia | ||
 |
1. Check that the schedule SI is confirmed. 2. The short term capital gain is taxed at slab rate, till the basic exemption limit is exhausted. Only after that it is charged at 15% rate. |
 |
Thank you sir - I unticked the Schedule SI and as per your suggestion, I added and now it is calculatedat 15%.
ramdoss m
(122 Points)
Replied 13 September 2021
sorry sir - please read as "previously I unticked the schedule SI - and now as per your suggestion, I added Sch.SI ...''
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177741 Points)
Replied 13 September 2021
Congrats ..... Problem resolved .....
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