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A comprehensive list of frequently asked questions on Capital Gains IT Filing.
Capital gain is a rise in the value of a capital asset (investment or real estate) that gives it a higher worth than the purchase price. The gain is not realized until the asset is sold. A capital gain may be short-term (one year or less) or long-term (more than one year) and must be claimed on income taxes.
Short term capital gain: Any asset owned by an individual (taxpayer) for less than 3 years since the date of transfer/ownership is referred to as a short-term capital asset. This duration should be less than 12 months in case of shares. Gain earned by an individual in lieu of transfer of a short term capital asset is termed as short term capital gain.
Long term capital gain: Any asset owned by an individual (taxpayer) for more than 3 years since the date of transfer to his/her name is treated as a long term capital asset. This duration is taken as 12 months or more in case of shares. Gain earned by an individual in lieu of transfer of a long term capital asset is termed as long term capital gain.
You can send the soft copies of the required documents to email@example.com or upload the documents on EZTax Website.
It is nothing, but your income tax computation sheet prepared by EZTax. In other words, it is summary of your income tax computation details.
After receiving draft from EZTax.in through mail, you can revert to that mail with your opinion to proceed further.
ITR-V stands for 'Income Tax Return Verification' Form. You will receive ITR-V when you file your Income Tax return online.