About this plan
This plan is specially created for individuals who have sold a residential/commercial property or land, and need to file ITR-2 due to capital gains income, along with other income sources such as salary, interest, house property, and agricultural income (above ₹5,000).
It includes complete capital gain computation, eligibility assessment for exemptions under Sections 54, 54EC, 54F, and correct filing of ITR-2 to ensure compliance with Indian tax laws and avoid scrutiny or penalties.
Services Included
- Full capital gains computation on sale of property: Short-term or long-term classification
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Assistance in claiming exemptions:
Section 54 – purchase/construction of new house
Section 54EC – investment in capital gain bonds
Section 54F – sale of long-term capital assets -
Reporting of:
Salary income (with single or multiple Form 16s)
House property income (self-occupied or rented)
Other sources (interest, dividend, etc.)
Agricultural income exceeding ₹5,000 - TDS reconciliation (Form 26AS, Form 16B from buyer)
- Calculation as per both the Tax Regime and selection of one which is best for you
- Support with e-verification and refund tracking on tds deducted on property sale.
- Expert Assisted Tax Filing. | Call 011-45626514
Who Should Buy
How It's Done
This plan is equipped with end-to-end online fulfillment via our expert. No hassle, 100% Digital.
3 Days Estimate
- Upload Documents on Vault
- Review computation sheet
- Get ITR-V after e-filing
Documents Required
Property improvement cost receipts (if any)
FAQs
What is Capital Gain for income tax purposes?
Capital gain refers to the profit earned from the sale or transfer of a capital asset such as property, shares, mutual funds, gold, etc. It is classified as:
- Short-Term Capital Gain (STCG)
- Long-Term Capital Gain (LTCG)
Based on the holding period of the asset.
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What types of capital assets are commonly taxed?
- Land & Building
- Listed Shares & Mutual Funds
- Unlisted Shares
- Debt Mutual Funds
- Gold and Jewellery
- Bonds and Debentures
- Cryptocurrency and Virtual Digital Assets (VDAs)
Which ITR form should I use if I have capital gains?
- ITR-2 – If you have capital gains and no income from business/profession
- ITR-3 – If capital gains are related to business activity (like trading in F&O)
Can I claim exemption on capital gains?
Yes, you can claim exemption under:
- Section 54 – Sale of residential house & purchase of another
- Section 54F – Sale of any asset and purchase of a house
- Section 54EC – Investing in capital gain bonds (e.g., NHAI, REC)
Valid documents and timely investment are required to claim these.
Is tax audit required for capital gain income?
No, tax audit is not applicable solely due to capital gain income, but accurate disclosure is mandatory.
Do I need to report exempt capital gains in ITR?
Yes, even if gains are exempt (e.g., LTCG on equity up to ₹1 lakh), they must be reported in ITR under Schedule CG.
What documents are required to file ITR for capital gains?
- Sale/purchase invoices
- Demat transaction statements
- Mutual fund capital gain statement
- Property sale deed
- TDS certificates (Form 26AS)
- Form 16A/16C (if TDS deducted on property sale)
- Broker contract notes
Can I claim exemption on capital gains?
Yes, under specific sections:
- Section 54 – Sale of residential property, reinvested in another residential house
- Section 54EC – Investment in NHAI/REC bonds within 6 months
- Section 54F – Sale of long-term asset other than house, reinvested in a house property
Is indexation benefit available?
Yes, for LTCG on non-equity assets, indexation helps adjust the purchase price for inflation, reducing tax liability.
Is loss from capital gains allowed to be carried forward?
Yes:
- Short-Term Capital Loss (STCL) – Can be set off against STCG & LTCG
- Long-Term Capital Loss (LTCL) – Can only be set off against LTCG
Both can be carried forward for up to 8 years if ITR is filed within due date.
What is the due date to file ITR with capital gains?
- Generally, 31st July (Non-audit cases)
- If accounts are audited – 30th September
What is the treatment of capital gains from inherited property?
- No tax on inheritance
- Tax arises when you sell the inherited asset
- Holding period includes the original owner’s holding period
- Cost of acquisition = Cost to the original owner
Do I need to pay advance tax on capital gains?
Yes, if your total tax liability exceeds ₹10,000. Estimate and pay advance tax in the correct installment to avoid interest under Section 234B/234C.
Is capital gain from cryptocurrency taxable?
Yes, from AY 2023-24 onwards:
- Flat 30% tax on gains from crypto/VDAs
- No deduction (except cost of acquisition)
- No set-off allowed with other losses
How do I show capital gains in ITR?
Capital Gains are reported in:
- Schedule CG – Short-term and Long-term gains separately
- Schedule BFLA – For loss adjustment
- Schedule CFL – For carry forward of losses
I have multiple capital gain transactions. Do I need to show each one separately in ITR?
No, individual transactions need not be listed. You can report consolidated figures, grouped by asset type (e.g., STCG from equity, LTCG from debt funds, etc.), but maintain a working sheet or computation in case of a notice or scrutiny.
I sold shares and reinvested in other shares – is this exempt?
No. Reinvestment in other shares does not make the capital gain exempt. Tax will be applicable on the gain from the original sale.