Query regarding itr form and ltcg

Querist : Anonymous (Querist) 03 August 2021 This query is : Resolved
Dear sir,
My salary income is 18 Lacs and having 12000 LTCG on shares.can I fill ITR form 1 as my LTCG is below 1 lacs

Thanks

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Quick Summary

If you have both salary income and Long Term Capital Gains (LTCG) from shares, even if the LTCG is below £1,000, you cannot use ITR Form 1. ITR Form 1 is designed for simpler tax situations and does not have a section for reporting capital gains. Therefore, you must file using ITR Form 2 to correctly declare your LTCG.

Dr Sanjay Sinvhal (Expert) 03 August 2021
No. You need to file ITR2. ITR1 has no provision to file LTCG.

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Querist : Anonymous (Querist) 03 August 2021
Thanks for quick response

Sadashiv Rupchand Gaikwad (Expert) 21 August 2021
you have not purely salary income. Long term capital gain income is to be considered in Capital Gain Head of of Income, So ITR 2 is to be used.

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