Long term capital gain from equities for AY 2019-20


Nirmal Bhansali   19 June 2019

Nirmal Bhansali

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How to report LTCG from equities in ITR when multiple stocks are sold with more than say 100 or 1000 transactions? Both FMV- Fair market price as on 31/01/2018 and purchase price of each stock will be different so how to determine the net cost of acquisition for multiple stocks. ITR form has a provision to fill up figures for one stock only. Is it possible to consolidate all the transactions based on Broker's statement and put in a way that the final gain or loss in the ITR form shown in 4c matches with actual gains or losses as per Broker's statement. Please advise.

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Dhirajlal Rambhia (KVO Merau Kutchh)     19 June 2019

Dhirajlal Rambhia
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Yes.

In case of long term capital gains (LTCG) arising on sale of equity shares or unit of equity oriented fund or unit of business trust on which STT is paid, separate computation of capital gains should be made for each scrip or units of mutual fund sold during the year and aggregated amount should be provided in item No. B4 (ITR 2)/B5( ITR 3) (in case of residents) or item No. B7 (ITR 2)/B8(ITR3)(in case of non-residents).

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Nirmal Bhansali   19 June 2019

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Thanks a lot Mr Dhirajlal Rambhia for your views.

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Om Goyal   21 June 2019

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the above reply of sh Dhiraj lal Rambhia is nice pl follow same.

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Rani (None)     21 June 2019

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It is not possible to enter LTCL in B4 of ITR 2 . The cell won't take negative values. If more than one scrip or MF units are sold it is not possible to enter the data. Will CBDT modify the ITR forms, if not how to enter the LTCG/LTCL?

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Nirmal Bhansali   21 June 2019

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It is possible. U have only to put values in B4 a, bi,bii n biii, rest values in bi, c, d n f will be automatically calculated indicating loss by negative value which can be carry forwarded. No need to change ITR.

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Rani (None)     22 June 2019

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I tried.  It accepts values as suggested by you .I was trying to convert to XML and gets the message "press calculate tax". Then get a message to enter the values in cells in FMV, actual COA etc. How to go forward and generate XML file?

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Nirmal Bhansali   22 June 2019

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Perhaps you are using ITR-2 for PR 1.1 which is now revised to PR 1.2 on 14/06/2019. In PR 1.2, you have to manually enter values in cells with green background and only biv,c,d and f are auto piloted. Also X M L file will be correctly generated if you are using the latest version of the ITR. Hope it will work now.

Rani (None)     22 June 2019

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Thanks . Will download the latest version and try.

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Nirmal Bhansali   22 June 2019

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Wishing you the best. May email or call me if still face any problem.


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