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ITR-2 long term capital loss on equity shares STT paid

R.Akhila (Student CA ) (61 Points)

27 June 2019

Which part of Capital Gain schedule in ITR 2 should we show Long Term Capital Loss in equity shares for Set off and Carry forward?
schedule CG has part B-4 sec 112A for capital gain but loss is not considered in that. It is not being carried forward. Kindly help resolve the issue.
thank you

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6 Replies

Moiz Daruwala (13 Points)
Replied 28 June 2019

Long term capital loss stt paid is exempt and cannot be setoff

R.Akhila (Student CA ) (61 Points)
Replied 28 June 2019

above rs 1 lakh capital gain is taxable @ 10% as per sec 112A so loss is also available for set off and carry forward

Monika Arora (learner) (347 Points)
Replied 28 June 2019

Contact helpline for rectification; it may be fault in the utility,

4 Like

J S BHAVSAR (CONSULTING) (1288 Points)
Replied 12 July 2019

ITR2 Utility date 11 July 2019 downloaded today. In that I entered all the details related to LTCG on Equity Shares and Mutual Funds.

The Schedule CG was automatically populated and the LTCL was automatically populated.

The LTCL amount from equity then got nullified with the LTCG from Debt Funds and net capital gain was shown.

That capital gain amount automatically appeared on Schedule SI

R.Akhila (Student CA ) (61 Points)
Replied 12 July 2019

Yes thank you, the utility has been rectified and updated on 11th July.the issue has been resolved

J S BHAVSAR (CONSULTING) (1288 Points)
Replied 12 July 2019

In the new ITR2 of 11 July 2019, I just saw that the LTCL loss from Schedule 112A got adjusted with the LTCG from the Debt funds. The net result amount was automatically entered in Schedule SI.

Is this what should happen from now onwards? Earlier the LTCG from Debt funds was not getting adjusted with anything. Now it is happening.