Hi
The LTCG are exempt.
Report it under Exempt income from LTCG and not under the Capital Gains.
LTCG tax
During the FY: 2017-18 , I have LTCG of Rs.107294/- by selling shares listed in NSE. As far as I know, these gains since occurred before 31-3-2018 and STT paid are tax free. When I enter the details of this in the ITR-2 Java Utility, 10% tax on LTCG is getting deducted. Why this is happening?. I used the B 3.1 of Schedule CG -- From sale of (I) listed securities (other than a unit) or zero coupon bonds where proviso to section 112(1) is applicable. Is exemptions under section 10(38) on Long-Term Capital Gains not allowed in this case.?
Asked 6 years ago in Income Tax
You need to enter details in tax exemption column u/s 10(38)
Enter the details in Sheet - EI (Exempt income). There's a specific line for this LTCG. Only Net profit needs to be entered. No CG sheet details are required for this one.
Hi,
Long Term Capital Gains are exempt.
You can report it under Exempt income from LTCG.
Regards,
nikhil
Hi,
Don't put the details of long term gain on equity shares in schedule CG.
You are supposed to put it in schedule EI under exempt income.
Show this LTCG in exempted income sheet which is in last of the utility
Dear Sir,
Enter details under schedule exempt income only. No need to show it under schedule CG as it is exempt.
Thanks
Hi,
Hope you are doing well !
Long term capital gains are exempt .
You can show it in schedule Excempt income in tax return.
Thanks & Regards,
Payal Chhajed
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