Information about accrual / receipt of CG

Tax queries 13280 views 9 replies

Is it necessary to give quarterly details of short term and long term capital gains taxable at various rates, in the capital gains schedule of ITR 2 

Replies (9)

Yes, without which ITR is not getting validated.

Thank you sir...Is it possible to fill the net amount in any one of the quarter so that the total of all five columns become tally with schedule BFLA . Or how to calculate quarterly CG it's so much time taking process 

Take help of the capital gain statements from broker or registrar/s of MFs.

Otherwise, fill total gain in first quarter (provided you have nil tax liability)

Ok sir thank you so much, the assessee has no tax liability.... So I fill the total gain in first quarter as you said 

I have short term capital gains for two quarters and loss in the last quarter resulting in net short term capital loss. I am unable to validate and the suggesstion is "In Schedule CG, enter the value in Table F Sl. No. 1 the breakup of all the quarters equal to the value from item 3iii of schedule BFLA". Short term capital loss could not be fed in the information about accrual/receipt of capital gains as there is no negative sign to show the loss. As such validation is pending. Tax liability is nil after short term capital loss adjustment. CFL also shows the net loss to be carried forward. Pl advise where and how to key in the short term capital loss in the table so that it tallies with the stcl mentioned in the STCG ss loss.

Regards,

R. Ramnath

I also have similar problemof distributing losses across quarters.

@ Ramnath R ... 

When there is net STCL, you have to adjust it LTCG or carry forward it.

NO NEED TO DISTRIBUTE IT IN QUARTELY BREAK UP. AMOUNT IN ALL QUERTERS WILL BE '0'.

How to split Capital Gains in to 5 columns of 'F Information about accrual/receipt of capital gain' with the lumpsum value from 3iii of schedule BFLA (Spreading previous losses illogically)

Take help of capital gains statement & AIS schedule.


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