Capital gain on redemption– in income tax return

POSTED BY Dr Ramesh Prasad ON July 30, 2013 10:09 pm ONE COMMENT

Dear Sir,

I had had redemption of 8 equity mutual funds–including Reliance Gold Savings Fund– in 2012-13.Security transacion tax was paid on redemption.

My  Capital Gain are as follows–

     (a) Total Long Term Capital Gains on redemption of 8 mutual funds—  Rs 103778.

      (b) Short Term Capital Gain on redemption of gold fund–  Rs  3148.

Please advise about the followings–

     (1) Should I mention the Long Term Capital  Gain  of Rs  103778 in the  Schedule–Exempt income –of ITR-2 ?

     (2) In which column should I mention the short capital gain of Rs 3148 ?

     (3) Will I have to pay tax @ 20% on  Short Capital Gain of Rs 3148 (without indexation) ?

Please address my queries?

Thanking you,

R.Prasad.

One reply on this article “Capital gain on redemption– in income tax return”

  1. Dear Dr. Ramesh, for LTCG, fill in the details in Exempt income sheet. For STCG on Rel. Gold fund, please put in the details in your CG sheet & pay tax @ your slab rate.

    Thanks

    Ashal

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