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If you have long-term capital losses from FY 20-21, you generally need to provide scrip-wise details for shares purchased before 31st January 2018. For shares bought on or after this date, a consolidated figure might be acceptable, especially if the Fair Market Value doesn't impact your loss calculation. While you can attempt to provide consolidated details for post-January 2018 purchases, be aware of potential verification by brokers' SFT reports. No penalty is typically levied if there's no excess tax liability.

PRIYA

PRIYA (Querist)
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02 December 2021 I am having long term capital loss in fy 20-21 can I show consolidated figure instead of scripwise detail in 112a schedule as fmv does not affect loss figure?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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02 December 2021 For scrips purchased before 31.01.2018, scrip wise details is required. For others consolidated figure is allowed.

PRIYA

PRIYA (Querist)
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02 December 2021 Can we write
My broker is not giving scrip wise details so can I give consolidated amount, will my loss be carried forward if I give consolidated amount?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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02 December 2021 There is no option to give such explanation. At the most you may give consolidated details 'As of after 31.01.2018'; but there may be verification based on SFT report by the brokerage houses.

PRIYA

PRIYA (Querist)
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02 December 2021 in case of verification based on sft reports will the loss be disallowed or normally it is allowed on submitting details

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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02 December 2021 IT WOULD BE ALLOWED WHEN DETAILS PRODUCED, IF QUERY BE RAISED.

PRIYA

PRIYA (Querist)
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03 December 2021 can I show it in " bought on or after 31 Jan 2018 " as a consolidated figure in schedule 112 as I am not taking any benefit of fmv
as loss amount will remain the same whether I show bought before or after 31st January 2018
can any penalty be levied

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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03 December 2021 No. Penalty would not be levied, as there won't be any excess tax liability.

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