Hi,
My father sold some shares in this last financial year ( before 31 March 2013).
Now the income received from selling is tax free as shares were purchased long ago,
in physical form and then converted to Dmat.
So now the income received is long term capital gains and hence exempt from tax.
But this amount is more than RS: 5000/- and so we have to fill up the form ITR-2 right?
So shall we put just income received from selling (total amount) as exempt income ?
Cause anyways we won’t be able to calculate the net profit on selling price as CP is unkwown.
Also we are filling up ITR-2 for first time, so is there any other precaution ot be take or point to remember ?
Please reply.
Thanks .