Hello ,
I have a query regarding filing Long term capital gains and loss in ITR1. In the 112A section there are only two columns 'Total Sale consideration' and 'Total cost of acquisition'.
Last year (2024) I sold some shares and Mutual Fund and have capital gains totalling Rs.101700/- and loss of Rs.58063/-.
The detail is as below:
1.one Equity Mutual Fund bought in 2011 and sold in April 2024.(gain 38000)
2.three shares bought in 2007 and sold in Oct 2024(gain 63000).
3.one share bought in 2007 and sold in Dec 2024 for loss of 58000.
4.one share bought in 2020 and sold in Dec 2024 for loss of 63.
5.two share bought in 2021 and sold in Dec 2024 (gain 700)
I am waiting for my AIS to be updated , so have not filed my return yet. I am retired and get only FD interest and Mutual Fund dividends.
Since i have loss from two transactions, want to know, if all the above transactions can be added to arrive at a capital gain of Rs.43637/- and shown in ITR1.
I think we should fill the 112A section in ITR2 for sale of equity shares. The first column there asks whether the shares/unit were bougt acquired before or after 31st Jan 2018 and the second column where shares/unit transferred before or after 23rd July 2024.
I have done only one transaction before 23rd July 2024.
Should we enter the details of each Share and Mutual fund transactions done in ITR2 or just two entries by combining all transactions after 23rd July 2024 and one transaction entry before 23rd July 2024.
Also, i tried to load pre-fill data in excel utility, but all the TDS transactions are showing as Income from Capital Gains in ITR2 even though they are only dividends from Mutual Fund and FD interest. (this is not showing up in ITR1).
which form to be used ITR1 or ITR2 and also how to give the transaction details, individually or total summed up.
how to fix the problem of TDS showing as Capital gains?
Thanks.
CAclubindia
