Hi @Quicko ,
I dropped an email and whatsapp message as well but have not received ANY response for last 6 days.
Hi @Quicko ,
I dropped an email and whatsapp message as well but have not received ANY response for last 6 days.
@Quicko
i have 1.30lac long term profit and 2.5lac short term loss
now do i have to adjust full longterm profit agains the loss and just carry forward 1.2lac loss or i can adjust just 5k and carry forward 2.45lac loss as 1.25lac LTGC exemption is part of the computation of gains itself, not a deduction after set-off.
Hello @muthu.radhakrishnan Could you please confirm your email ID so we can get it verified at our end and help you with the issue at earliest?
Hello @hiren_parekh
Loss of 1.30 lakh will get set off. The ITD does not allow partial set off of losses.
Thank you
@Quicko
but my question is will 1.30 LTCG proft will setoff or only 5k as 1.25lac LTGC exemption is part of the computation of gains itself, not a deduction after set-off.
Section 112A grants an exemption on long-term capital gains (LTCG) up to ₹1 lakh (or ₹1.25 lakh as per the latest amendment). Importantly, this exemption is applied while computing taxable LTCG, not as a post-set-off deduction.
i am trying to file incometax via quicko, i have added my brokers but where can i add expensses like paying for smallcase fees
Hi @hiren_parekh,
You can add your trading-related expenses, like Smallcase fees, by following the steps in our help centre article.
Thank you!
@Quicko
i dont do f&o so its not business income, but i have only stock portfolio so it shows under capital gain tab and their is no option to add any kind of expenses in that.
The processing of Income Tax Returns (ITR) can take between 30 to 60 days. However, this year, we have noticed that it is taking longer than usual in many cases. If your ITR is still pending, you can wait a few more days. Additionally, you can file a grievance on the Income Tax Department (ITD) portal for assistance.
You can refer to this thread for further clarity. Why is my income tax refund late this year? | When will I receive my tax refund? - ITR Filing - Tax Q&A by Quicko - Get answers to all your tax related queries