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Problem with itr-2 in 112a tab?

ITR 635 views 5 replies

When I enter the following details in 112A tab in the new ITR2 (downloaded on 20/7/2019) I am getting what I think is erroneous result:

1. Sell rate = 2398

2. Cost of acquisition = 2875

3. FMV 31/1/18 = 2306.

This transaction is anyway a loss to me even w/o grandfather clause. But the ITR2 utility converts it into profit for me by putting FMV as COA. Also, I notice, nowhere does it give loss. The best case is 0.

Has anybody come across this problem? What is the way out?

Replies (5)

Sorry to say,

I verified .... (in ITR2 Java version 2.1)

I gives loss of 477 ..... i.e.  Rs. -477 in last column

Same gets reflected in Schedule CG...

Repeat it..

Ok, I was using the Excel utility and was getting the errors.

Will try using the Java version.

Thanks.

I tried out with Java. It works for number of shares=1. For any other value, it puts COA=FMV and arrives at wrong values. The same is the case with Excel utility. or number of shares=1, it is correct and wrong for all others. Sir, will you please try this for number of shares greater than 1?

Thanks

I used the ITR2 Excel Utility and since 11 July for my shares and equity mutual funds excel did the correct calculations.

EXCEPT

because of rounding effect happening within Schedule 112A, it added Rs - 10 to the LTCL.

Now I am worried whether I should report Rs -10 LTCL more than the actual LTCL. And whether department will create some problem in future? And if department creates a problem then how to explain the department and what should be explained?

Sir I have 13000 rs ltcg u/s 112a . But after filling the schedule 112a it does not exempt it even if it is below 1 lac. It is shown in LTCG 4a row with 10 % tax . How to get exemption below 1 lac?


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