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Equity mutual fund losses in itr2?

Bunty (personal) (55 Points)

18 July 2019

Where can I put loss amounts for equity oriented mutual fund short term as well as long term losses in ITR2 form?

is it only Schedule CG? my losses are each below 10,000 Rs.

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8 Replies

siddhesh (si) (198 Points)
Replied 18 July 2019

Dear Bunty,

You Can Claim the Losses in the schedule CG of ITR Form 2 . There is no restriction for claiming losses above 10000 in the law.

so freely maintained the loss which you are incurred.

Lastly it should not set off against any other income. But it should be carry forward for 8 years .

please clarify me for any mistake .

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J S BHAVSAR (CONSULTING) (1288 Points)
Replied 18 July 2019

Dear Siddhesh,

In my case for AY19-20, in the Schedule CG the LTCG from Debt funds (B9) is getting SetOff with the LTCL from equity (B4). Net LTCG is getting considered in Schedule SI

Is that right?

Bunty (personal) (55 Points)
Replied 18 July 2019

I need to understand first, Should this equity mutual fund Capital Short and Long term loss be set-off against debt mutual fund capital Short and Long term gain in Schedule CG, this year of ITR-2 only? or it need to be claimed from next year only?

Bunty (personal) (55 Points)
Replied 18 July 2019

Dear J. S. Bhavsar,

I can try your way, where to put LTCG loss?, I tried Schedule CG, B4, a. Full value of consideration and put 5000/- amount but I cannot see its getting setoff. It should appear in E section under "Long Term Capital loss set off" right?

It is appearing as gain and not loss in E section of Schedule CG

J S BHAVSAR (CONSULTING) (1288 Points)
Replied 18 July 2019

Dear Bunty,

I entered all equity stock and equity MF data in Schedule 112A of ITR2. It resulted in the loss and that Loss from Schedule 112A went into Schedule CG B4.

I directly entered the data of Debt Mutual Funds data in Schedule CG B9. The net of the LTCG (Debt) and LTCL(Schedule 112A) went and auto inserted in Schedule SI, LTCG 20% tax.

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Bunty (personal) (55 Points)
Replied 18 July 2019

Dear J. S. Bhavsar,

I see I have 50 rows of data for Schedule 112A, so I need to enter all these 50 rows?

siddhesh (si) (198 Points)
Replied 18 July 2019

Dear Sir,

Yes For Schedule 112A in LTCG Column 4 of ITR 2 please give a details to calculate your loss here,

No Indexation Benefit is available.

Total of Consideration received by you specified in Statement of Capital Gain received from your Broker. also Total Cost of acquisition also mentioned in there and any expenses relating to transfer does not include STT also mentioned in statement of Capital gain Issues by broker or Mutual fund Company for all 52 transaction on that basis you can filed the column but no need to file each 52 transaction details separately.

For Short term Capital loss on Equity share and debt mutual fund Capital Gain Section A-2 Column in Short term Capital Gain Section In ITR 2 please enter details of transaction which helpful to calculate loss are as follows

Total of Consideration received by you specified in Statement of Capital Gain received from your Broker. also Total Cost of acquisition also mentioned in there and any expenses relating to transfer does not include STT also mentioned in statement of Capital gain Issues by broker or Mutual fund Company for all 52 Transaction No need to give separate details of each transactions.

Also in Case of Long term debt fund Capital Gain Please enteed details in Schedule CG Part B Coumn 2 .

Note:- Long term capital gain Loss only set off against Long term Capital Gain

Short term Capital Loss gets setoff with both Long term Capital Gain and Short term Capital Gain

Bunty (personal) (55 Points)
Replied 19 July 2019

Well, I tried adding 50 rows which included both short term and long term loss but they got represented under long term loss of 10% in Section E. I find it very complicated to fill those rows just because the calculation my broker gave me are just figures and when I entered them there is some amount of difference. Also interesting to see after filling Schedule 112A, its final values got reflected in Schedule CG, Part B, column 4 which I can change to the final values given by broker.

I managed to input STCG and LTCG but I am looking for STCL and LTCL input. Let's take some round figures for here for calculating STCL and LTCL.

Total of Consideration received in Statement of Capital Gain received from Broker is 28.000/-

Total Cost of acquisition on 31st jan 2018 is 30,000. so I am at LTCL of 2000/-

Total of Consideration received in Statement of Capital Gain received from Broker is 49.000/-

Total Cost of acquisition on 31st jan 2018 is 50,000. so I am at STCL of 1000/-

Total of Consideration received by you specified in Statement of Capital Gain received from your Broker. also Total Cost of acquisition also mentioned in there and any expenses relating to transfer does not include STT also mentioned in statement of Capital gain Issues by broker or Mutual fund Company for all 52 transaction

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