ITR for Salaried Individuals with Capital Gains is a specific category of income tax return for people who earn a salary and also have income from the sale of capital assets like stocks, mutual funds, or property. This return requires reporting both salary income and the profits or losses from capital transactions.
Filing this ITR is crucial for accurately reporting all sources of income and ensuring compliance with tax laws. It allows individuals to set off capital losses against gains and carry forward any remaining losses to future years, which can help in reducing overall tax liability.
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