incometaxquery (Software Engineer) 20 July 2019
Can you please look at the following case and let me know how is the tax to be calculated and how it is to be entered in ITR and in which section?
|Stock||Purchase Cost||FMV on 31st 2018||Sale Price||Gain|
So, if you see above, if I do calculations on stock by stock, my gain is -35000+5000 = -30000 (APPROACH 1)
However, if I have to add up everything and then do the calculations, then my gain is 100000-116000 = -16000 (APPROACH 2)
Which of the two approaches is correct?
Then how do you enter in ITR, particularly if the right answer is -30000? Which section in CG ? I could not find a way to enter multiple rows to follow Approach 1 in ITR.
Dhirajlal Rambhia (KVO Merau Kutchh) 21 July 2019
1. For Stock no. A..... Loss is 36,000/- and not 35K
2. First approach is right, as per law.
3. Fill the data scriptt-wise in schedule 112A, it will take care.