LTCG <1L added to my taxable income. It should have been exempted

Income Tax
1

LTCG <1L added to my taxable income. It should have been exempted

Please help on how to claim 1L exemption on LTCG

2

Hey, can you write to us at help@quicko.com so that our team can look into it?

3

Quicko is calculating my long term equity capital gains which is under 1 lakh INR as taxable income. I am opting for New Tax Regime.

Is there no exemption for equity long term capital gains under New Tax Regime? Or is there some bug?

4

Hi @shubham

The LTCG exemption of Rs. 1 lakh is taken into consideration by Quicko under both the regimes.

It is just shown on the interface as a taxable income for the purpose of reporting, however, the same is not considered for the computation of tax.

You can verify the same by Downloading Tax Computation Report : Help Center > Tax payable at Special rate and Tax Payable at Normal rate.