Question And Answer
Subject: Ltcg Section 112a- how to claim deduction, ie in which schedule
Querist: Ranjit Khosla
Answered by:
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Date: May 20, 2022
Query asked by Ranjit Khosla

Suppose I have ltcg of Rs 1.5 lakhs under section 112a. How to claim a deduction of Rs 1 lakh. In which schedule?

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Answer given by

LTCG to be computed on Gross Basis in the total income i.e.1.50 lakh to included in the total income.
Tax on such 1.50 lakh would be calculated excluding 1 lakh i.e. 0.50 lakh @10% chargeable to tax.
It is to be shown in ITR Schedule B serial no.5 From sale of equity share in a company or unit of equity oriented fund or unit of a business trust on which STT is paid under section 112A
a) LTCG u/s 112A (column 14 of Schedule 112A).

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