DEAR MEMBERS
I HAVE INCURRED LONG TERM CAPITAL LOSS ON SALE OF SHARES DURING THE FY 2017-2018.
PLEASE GUIDE ME HOW TO SHOW THE ABOVE IN MY ITR2 SINCE THE LTCL CANNOT BE C/F AND ADJUSTED.
THANKS & REGARDS
HEMANT
Menu
Long term capital loss in shares
Replies (16)
LTCL on shares where STT paid.........No need to declare in ITR2.
Respect Dhirajlal Rambhia Sir,
can you please clarify why the LTCL is not required to declare in ITR 2?
And it can also be carry forward for 8 AY's
can you please clarify why the LTCL is not required to declare in ITR 2?
And it can also be carry forward for 8 AY's
Till AY 2018-19, LTCG over an equity share of a company or a unit of an equity oriented fund or a unit of a business trust.... are exempt u/s. 10(38) of IT act. Similarly Long Term Capital Loss on Shares and Equity Funds is a dead loss and therefore it cannot be set off or carried forward.
if STT paid then Loss from an exempt source cannot be set off or carried forward.
Thankyou sir, agree with you
but one more clarification is required
Is there any specific reason behind not declaring LTCL on equity shares in ITR 2?
but one more clarification is required
Is there any specific reason behind not declaring LTCL on equity shares in ITR 2?
If there is no need to declare LTCL in the ITR 2 then what if the IT scrutiny comes due to no turnover shown in the ITR2 whose information reaches them via AIR by the broker?
If there is no need to declare LTCL in the ITR 2 then what if the IT scrutiny comes due to no turnover shown in the ITR2 whose information reaches them via AIR by the broker?
Exactly my point of view is same
the LTCL is not allowed to be carried forward this is right but not declaring the same in ITR 2 is as equivalent to escaping actual information in return which may give a chance of of scrutiny notice
the LTCL is not allowed to be carried forward this is right but not declaring the same in ITR 2 is as equivalent to escaping actual information in return which may give a chance of of scrutiny notice
But I have also tried to fill ITR2 giving details of the purchase and sales of the LTCL but the Loss figure is automatically C/F ...
Sir, you need to select the option of Stt paid on shares afterwards the same will not be shown carried forward
Please can u mention the Serial No of the ITR2
Sir, you need to select the option of STT paid on shares afterwards the LTCL will be shown carried forward
I found no such option in ITR2....
Sir,
I have checked out that no such option is provided in ITR utility 2 in respect of LTCL so it is advisable not to show your LTCL in your return as there is no option to select stt paid on shares that restrict to carry forward the loss
Recent Topics :
- ITC availed on 5%-rate passenger transport (AC bus
- Extension of Due Date of AY 2026-27
- FAST DS 2026
- Does AIS GST Purchase aggregate GSTR-2B expenses?
- Form 26A - System has encountered some technical p
- Tool to convert GST invoice PDFs into Excel —
- Revised or rectification or leave it?
- Private limited tax audit
- LTCG - SEC54
- Foreign remittance from our client for Co Working
Related Topics :
CAclubindia
