IT Form for salaried but having STCG
I am salaried in a govt orgnaization. So I have TDS -Form 16 from my employer. However, I have STCG from a property sale which was financed by HBL.
The proceedings for the same was not reported to the employer, hence it is not reflected in the Form 16. But the Tax amount was paid before 15th March, as Advance Tax. This is reflected in my Form 26AS under Part B, and also under 'IT Sch' while filing online.
In this case, should I file only ITR -1 or ITR -2 as well? If so, whether the entry that appear against 'IT Sch' in the online filing form should be deleted and the same be entered in ITR-2? In case I file both ITR-1 and 2 the salary information and TDS paid shall also be entered in ITR-2 as well? Kindly advice. more
The proceedings for the same was not reported to the employer, hence it is not reflected in the Form 16. But the Tax amount was paid before 15th March, as Advance Tax. This is reflected in my Form 26AS under Part B, and also under 'IT Sch' while filing online.
In this case, should I file only ITR -1 or ITR -2 as well? If so, whether the entry that appear against 'IT Sch' in the online filing form should be deleted and the same be entered in ITR-2? In case I file both ITR-1 and 2 the salary information and TDS paid shall also be entered in ITR-2 as well? Kindly advice. more
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You can file only one ITR for a particular A.Y. In your case ITR-2 is applicable. There is no need to break up CG into quarters since CG is earned in one go only. If you are facing troble in java utility try filing through "prepare and submit online return" more
Aug 31
Thank you all for your helpful suggestions. I have held the property for less than 3 years, while I closed the mortgage dues in August. While filling the java utility for ITR-2 I am stuck up in one point of 'error' during validation. Schedule CG, F (Information on receipt of capitial gain) 3 (STCG taxable at applicable rates, Enter value from 3v of BFLA, if any). In fact I could not find any 3v under BFLA. I had received 1/5 of the sale proceedings in August the rest in Dec. How would I calculate the quarterly break up of CG? more
Aug 31
