ITR - 3 filing

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This discussion addresses common queries regarding Income Tax Return (ITR) filing. It covers how to declare short-term capital losses for carry-forward, whether to report long-term capital gains below the exemption limit, and the procedure for disclosing foreign assets like US stocks. Additionally, it clarifies the reporting of minimal dividend income and the disclosure of unlisted Indian equity shares.

sai

sai (Querist)

10 July 2022 Greetings !

I have some doubts in my filing process.

1. I had short term capital loss from stock market. In order to carry forward my losses for next
year, Is it enough to just enter it in schedule capital gains section or Do I need to mention it
somewhere else ?
2. I had long term capital gains of less than 1 lakh.
As there is exemption upto Rs. 1 lakh, Do I need to show my gains or leave it ?
3. I have holdings in US stocks. I have purchased them in 2021 and foreign remittance of that
amount was shown in my AIS statement. I didn't sell anything, so there were no capital
gains/loss. I was just holding those stocks.
Do I need to show them as foreign assets in my filing ? If Yes, suggest how to do it.
4. I had received minimal amount around Rs. 100 as dividend from US stock holdings. Do I need to show them as
income from foreign assets or leave it ?
5. I have holdings in Indian unlisted equity shares. No capital loss/gain, only holding. Do I need to disclose them and
how ?

Kindly clarify my doubts.

Thanks in advance.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

10 July 2022 1. Schedule CG
2. Schedule 112A
3. Yes under Schedule FA

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sai

sai (Querist)

11 July 2022 4. I had received minimal amount around Rs. 100 as dividend from US stock holdings. Do I need to show them as income from foreign assets or leave it ?
5. I have holdings in Indian unlisted equity shares. No capital loss/gain, only holding. Do I need to disclose them and how ?
Kindly clarify my doubts. Thanks in advance.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

11 July 2022 1. Always advisable to declare.
2. Declare it at table 'Audit' in schedule 'General'

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CA Puja Sharma

CA Puja Sharma (Expert)

11 July 2022 You can ignore the dividend.
No need to show holding in Indian unlisted companies.

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