ITR for Capital Gains

Section 112A (introduced FY 2018-19, applicable from AY 2019-20) taxes LTCG on listed equity shares and equity-oriented mutual funds at 12.5% on gains exceeding ₹1.25 lakh per year, without indexation benefit. STCG on listed equity under Section 111A is taxed at 15% (revised to 20% from 23 July 2024 — verify current rate).

Section 112 LTCG on property (residential / commercial) held more than 24 months is taxed at 20% with indexation benefit using Cost Inflation Index (CII) from 2001-02 base. Without indexation, taxpayer can opt for 12.5% — but only for property acquired on or after specific date as per Finance Act 2023.

Property capital gain = Sale consideration (or stamp duty value, whichever higher) — indexed cost of acquisition — indexed cost of improvement. Indexation uses CII from 2001-02 base. Section 54 / 54F exemption available on purchase / construction of new residential property within specified time. Section 54B for agricultural land.

Yes. STCG and LTCG losses can be carried forward for 8 assessment years if ITR-2 is filed within the Section 139(1) due date (31 July 2026 for AY 2026-27). STCG loss can be set off against STCG and LTCG; LTCG loss against LTCG only. Belated return under Section 139(4) disallows loss carry-forward.

Section 54 allows exemption from LTCG on sale of residential house if another residential house is purchased within 2 years before / after, or constructed within 3 years. Section 54F allows exemption on LTCG from sale of any long-term capital asset if entire net consideration is invested in a residential house within prescribed time.

Section 194-IA mandates buyer to deduct 1% TDS on sale of property (excluding agricultural land) exceeding ₹50 lakh at the time of credit / payment. The TDS is deducted on the higher of actual sale consideration or stamp duty value. TDS must be deposited using challan 26QB within 30 days from end of month of deduction.

Capital gains ITR-2 filing starts from ₹999 at FinTax24. Property LTCG with indexation starts from ₹1,499. ESOP / RSU capital gains starts from ₹1,999. Multiple capital asset sale or DTAA claim starts from ₹2,499. Schedule CG drafting and Section 54 exemption planning included.

Late filing of capital gains ITR-2 attracts Section 234F fee of ₹1,000 (income ≤ ₹5L) or ₹5,000 (income > ₹5L). Loss carry-forward is disallowed. Section 234A interest on unpaid tax applies. Section 271(1)(c) penalty of 100%-300% of tax for concealment of capital gains or foreign income disclosure failures.