Capital Gains on sale of UTI MEPUS

Save Share

This query is : Resolved

Quick Summary

A user is seeking guidance on reporting Long Term Capital Gains (LTCG) for units of UTI MEPUS sold in 2023, purchased in 2003. The primary issue is the absence of an ISIN for the scheme, which is preventing reporting in Schedule 112A of ITR 2. While UTI confirmed the scheme lacks an ISIN as it's not traded on the secondary market, a similar past issue was resolved by using a placeholder ISIN.

Ramadevi Srinivasan

Ramadevi Srinivasan (Querist)
Follow

15 July 2024 A person sold units of UTI MEPUS in 2023. The same was bought in 2003. The UTI sent the CG statement which shows the acutal purchase price in 2003, the grandfathered value as at 2018 and sale price and shows the applicable CG earned. However the statement does not indicate the ISIN number of the scheme. On enquiry the UTI has replied vide email that this scheme does not have ISIN as it is not traded in secondary market.
How can the LTCG in this case be reported. As this is an equity oriented scheme (the name itself says Master Equity Plan Unit Scheme) we decided to report in Sch 112A of the CG section in ITR 2. However, as there is no ISIN we are unable to report the same.
Please guide as to how this can be reported.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

15 July 2024 What is AIS reporting?

Rocks Parss

Rocks Parss (Expert)
Follow

16 July 2024 Ramadevi Srinivasan, We had a similar issue more than a year ago and on personal visit we were asked to mention the ISIN as INF123BSE162 Trust that helps

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now