Can I submit ITR1 in the case of a very small STCG amount?
Mutual fund STCG is < 5k I saw a video, it was mentioned that we can submit ITR1 in such case the STCG amount is < 1 lakh, instead of submitting ITR2
It is true?
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The simple answer is no. But < 5k you can take the chance… they won’t come after such a small fish
Hey Jenny,
If there is an income from Capital Gains, it must be reported in ITR-2. The tax treatment of STCG & LTCG is different than other incomes. Thus, taxpayer should file ITR-2 with accurate calculation and correct reporting.
Hope this helps 