Long term cg calculation with grand fathering - which approach is right?

Hi All

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
A 43000 28000 7000 -35000
B 63000 88000 93000 +5000
Calculations 106000 116000 100000  

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.

 

 

Replies (1)

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.

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