| Question And Answer | |
|---|---|
| Subject: | Ltcg Section 112a- how to claim deduction, ie in which schedule |
| Category: | Income-Tax |
| Querist: | Ranjit Khosla |
| Answered by: | Research Team |
| Tags: | Capital Gains, Long term capital gains, section 112A |
| Date: | May 20, 2022 |
Suppose I have ltcg of Rs 1.5 lakhs under section 112a. How to claim a deduction of Rs 1 lakh. In which schedule?
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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