Filling ITR2 from Capital Gains statement

POSTED BY tmklsankar ON July 15, 2014 11:31 am NO COMMENTS

I am trying to fill ITR2 with the capital gains statement received from CAMS. The statement has gains under three headings: Short Term, Long term with Indexation and Long term without indexation. For an equity oriented MF, I have the values 453,-3531,2309 respectively.

1. Could you please tell me why we have long term indexation for equity oriented MF? To my understanding, all the gains after one year is LTCG and is tax free. If so, why we have indexation coming into picture?

2. In ITR2, what should I enter for Total Value of Consideration? Sum of the gains or the total amount I sold for?

3. What are Cost of improvement and “Expenditure wholly and exclusively in connection with transfer”?

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today