Dear I.T. Experts,
During AY2019-20( Fy2018-19), I sold a number of MF holding that were held for long time and making loss/low return. Overall LTCG LOSS with Long Term Indexation was Rs - 105904 (negative because loss; it is as per icicidirect.com tax calculation report; Rs - 38970 in Debt fund, and rest in Equity Hybrid fund).
I files ITR-2 with -Rs 105904 as Long Term Capital Gain on Sale of Capital Asses. (Schedule CG - Section B ; 4f )
I have received as notice u/s. 143(1)(a) - it says:
There is inconsistency in the amounts/Totals entered in schedule CG OR Taxpayer is claiming deductions u/s 54 which are more than the amounts allowable as per the respective sections.
Can someone please help what would be the correct way to file here?
I am attaching a screenshot of how I files the Schedule CG.
Many thanks in advance for your kind help.
Regards,
S. Das
CAclubindia
