Help needed to fill ITR-2. I am having a short term capital gain of Rs. 80000 and short term capital loss of Rs.20000. Under Part B-T1 of ITR-2 How much amount I have to enter in short term chargable (15%) column. In the schedule CG there is a provision to write - Set-off current year capital Loss with current year capital gain.How much amount I have to enter there. From where I can get full instruction to fill ITR-2 more
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It is very simple. Just write 60,000 (80,000 - 20,000) at T1chargable as 15% tax. As you have already set off your loss this year no more loss is to be mentioned in the CG.GO ahead. Its very simple. more
Aug 16
RESP.VENUGOPALSAHEB HAS CORRECTLY MENTIONED THE SOURCE.GET ON WITH SCREEN READING OF VERY LONG CIRCULAR IN DETAIL OR GET PRINT OUT AND READ. TAXMAN BOOK IS ALSO AVAILABLE.AND AS EXPERIENCED,SHORT TERM CAPITAL GAINS ARE TO BE DEDUCTED BY AMOUNT OF SHORT TERM LOSS AS PER RULES .SO SHOW NET FIGURE IN SHORT TERM CAPITAL GAIN COLUMN.VEN SECURITY TRANSACTION TAX IS PAID( WHICH CAN BE FOUND OUT FROM THE STATEMENT GIAVEN OR TAKEN BY YOU TO SAY FIGURES OF CAPITAL GAINS AND LOSS) SCHEDSISR NO.1 IS APPLICABLE(15% TAX RATE) OTHER WISE AS APLLICABLE BY VARIOUS PROVISIONS AND SLAB IN WHICH PERSON COMES.OVERALL AS RESP.GOYAL SAHEB SAY,IT IS NOT EASY JOB AND ONE SHOULD NOT BOTHER TO PAY SOME SMALL AMOUNT TO SPECIALIST TAX PREPAREERS OR C.A. THINK THAT CAPITAL GAINS IN SECURITY IS LUCK(SOME STUDY ALSO) FACTOR WHY TO BOTHER SPENDING FROM SUCH LUCKY GAINS IN OUR OWN INTEREST,PEACE AND ASSURANCE OF ADHERING TO RULES.LAWS OF I T ACT.WE WILL BE TENSION FREE AND IF NEEDED CAN FALL BACK TO THOSE PEOPLE IN CASE OF NEED /ENQUIRY BY IT DEPT. more
Aug 10
