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Reetika Sharma |628 Answers |Ask -Follow

Financial Planner, MF and Insurance Expert - Answered on Sep 09, 2025

Reetika Sharma is a certified financial planner and CEO of F-Secure Solutions.
She advises clients about investments, insurance, tax and estate planning and manages high net-worth individual’s portfolios.
Reetika has an MBA in finance from the Institute of Chartered Financial Analysts of India (ICFAI) and an engineer degree from NIT, Jalandhar.
She also holds certifications from the Financial Planning Standards Board India (FPSB), Association of Mutual Funds in India (AMFI) and Insurance Regulatory and Development Authority of India (IRDAI).... more

Question by Kosana on Jul 24, 2025Hindi

Money

I am a retired PSU Employee with pension as salary. I received Short term capital gain of about Rs. 20 thousand and Long Term capital gain of Rs. 1,20,000 after 25.7.2024. Can I file my tax return in ITR 1 ?

Ans: Hi Kosana. No you cannot file your return under ITR 1. You have to declare your short & long term capital gains however small they may be. There would be no tac on Rs. 1.2 lakhs but Rs. 20,000 would be taxable.
It is very important to declare every single penny earned by an individual under the income tax - be it taxable or not.

Best Regards,
Reetika Sharma, CFP
https://www.instagram.com/cfpreetika/

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Hardik Parikh | Answer |Ask -Follow

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Question by Rajesh - Jul 08, 2023Hindi

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Dear Mr. Parikh, I am 86 years age and retired from IOCL (PSU). Last year I sold 2 nos. of Mutual Fund. The difference between sale and cost price was about Rs. 13296 which is less than the taxable limit of Rs. 100000/-. A sum of Rs. 10834/- was deposited as TDS. I propose to fill - ITR Form 1 including the Capital Gain of Rs. 13296 in the Exempt Income (for Reporting Purpose). Kindly advice whether this is in order or should I fill - ITR Form 2 ?

Ans: Dear Rajesh,

Firstly, I appreciate your diligence in managing your taxes. Now, coming to your query, the choice between ITR-1 and ITR-2 depends on the nature of your capital gains.

ITR-1, also known as Sahaj, is for individuals with income up to Rs. 50 lakh from salary, one house property, other sources (interest, etc.), and agricultural income up to Rs. 5,000. However, it does not allow you to report capital gains.

On the other hand, ITR-2 is for individuals and HUFs not having income from profits and gains of business or profession. It includes the provision to report capital gains.

In your case, since you have capital gains from the sale of mutual funds, even if it's less than the taxable limit, it would be more appropriate to file ITR-2. The TDS that has been deducted can be claimed as a refund in your return if your total income is below the taxable limit.

Please consult with a tax professional or chartered accountant to ensure you're following the correct procedure as per the latest tax laws.

Remember, it's always better to be accurate in your tax filings to avoid any future discrepancies or issues with the tax department.

I hope this helps.

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Samkit Maniar | Answer |Ask -Follow

Tax Expert - Answered on Feb 05, 2024

Question by Ravi - Feb 05, 2024Hindi

Money

Hello Samkit, I have retired from Govt. PSU service during Oct.2022 and had filed my ITR (Form 1) for FY 2022-23. For FY 2023-24, will there be any change in filing of returns or do I file in Form 1 itself which includes present employer salary, FD / SB interest and dividends. Secondly, from the buyback of shares by a company, which I am holding, the profit (purchase price less buyback price after brokerage, if any), do I need to account through Form 1 itself or do I need to change to other form in which this profit, present employer salary, FD / SB interest and dividends to be accounted. Kindly advice. Ravi Shankar

Ans: You may continue in the form 1 itself. You need to show the buyback amount under the head exempt income in the form.

Please take assistance of your CA on this.

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Tax Expert - Answered on Sep 21, 2024

Asked by Anonymous - Sep 02, 2024Hindi

Money

For more than 20 years I have not filed ITR since no taxable income but during FY 22-23 TDS was deducted from FD interest and Dividend income totalling about Rs 2500. Can I file ITR now for refund claim. Since I am planning to sell some equities there will be LT/ST capital gains but without any other income. I am planning to sell some shares and transfer some money say 10 lakhs to my Son's account for him to invest in equities. Can I start filing ITR regularly now onwards without any problems. Thanks

Ans: 01. You have missed the opportunity to file your ITR for F/Y 2022-23 & claim refund.
02. You may again start filing your ITR's on regular basis, with immediate effect, without any problem.
Most welcome for any further clarifications. Thanks.

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I have asked this question 3 weeks ago and still no response. Please can someone address this. Hi health expert, I have been struggling with severe health anxiety for many years now. I am currently in my mid-40s and I think this started after a traumatic experience around 10–12 years ago. We had gone on a family vacation and shortly after returning my uncle fell seriously ill. After diagnosis we found out he had advanced stage cancer and we lost him within a few months. The shock of that experience affected me deeply and ever since then I have lived with an intense fear of cancer and serious illness. Even small things like a stomach ache, a pimple, swelling, fever, or any unusual sensation trigger extreme fear in me. I immediately start thinking the worst and it causes sleepless nights and constant worry. This has seriously affected my quality of life. Along with the anxiety, my OCD symptoms also become very intense during these phases. It feels like there’s a voice in my head constantly telling me to perform certain rituals like praying immediately, drinking water at a specific moment, not switching off the AC, or doing random actions “or else” something bad will happen. It becomes mentally exhausting, and at times I struggle to function normally in my daily routine. I have consulted several psychiatrists and psychologists over the years, but I still feel unhappy and stuck. I am reaching out here to ask if anyone has experienced something similar or found anything that genuinely helped whether coping techniques, home remedies, calming practices, or anything else that brought some peace and stability. Basically I am looking for some home remedy and also want to check is this something rare or they are people who goi through this.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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