Salary plus capital gains? File ITR-2 and get standard deduction

ITR-1 is for individuals having total income up to `50 lakh and deriving income from salary, one house property, income from other sources (interest, etc.), agricultural income up to `5,000 but does not include income from capital gains.

ITR-2 is for individuals earning income from sources other than ‘business or profession’ such as salaries, more than one house property, capital gains, etc. 

Since you have income from both, salary and capital gains, you have to file ITR-2. You can claim standard deduction in ITR-2 from salary up to a maximum of Rs 50,000. 

You can file ITR-2 by visiting e-filing portal and downloading the offline ITR-2 utility under ‘Income tax return preparation utilities’ and uploading the XML generated after entering all details in the ITR form. 

The facility to file ITR directly online at e-filing portal is available only in case of ITR-1 and ITR-4 but not for ITR-2. 

You can claim standard deduction in ITR-2 from salary up to a maximum of Rs 50,000. 

You can file ITR-2 by visiting e-filing portal and downloading the offline ITR-2 utility under ‘Income tax return preparation utilities’ and uploading the XML generated after entering all details in the ITR form. The facility to file ITR directly online at e-filing portal is available only in case of ITR-1 and ITR-4 but not for ITR-2. 

LTCG on sale of listed equity shares for individuals, in excess of `1 lakh are taxable as income from capital gains.