Reporting of LTCG in ITR2

As the LTCG over equity product is exempt u/s. 10(38), generally it is declared without indexation.

As LTCL over equity is dead loss it is not disclosed anywhere.

Can we declare exempt LTCG (MF + listed Equity) with indexation in Schedule EI?

LTCL can be loss in MF also.

1. YES

2. YES ..

Can FY 2017-18 LTCL of equity stock and equity MF which is "dead loss" can we carry forward in ITR2, which can then be setoff against future LTCG? 

LTCG from FY 2018-19 is taxable 10% above Rs 1 lakh and indexation is not allowed.

So is CF of such previous year loss allowed?

1. No

2. No

From FY 2018-19, will LTCL be allowed to be carried forward?

From AY 2019-20, LTCL from shares & equity MF will be allowed to be set off with other LTCG, and any unadjusted amount will be allowed to carry forward.

The ITR-2 form doesn't allow to report losses during the quarter. So it could happen that overall I have LTCG and STCG by selling equities but with some quarter in profits and some in losses. The section F under CG, doesn't allow to report negative numbers. For example in Q1  (Upto 15/6) I have a profit of 10000 and between (16/6-15/9) i incurred a loss of 3000. For the subsequent periods there was not trading . How do the loss of 3000 gets reported in the section F? Do i offset it against the gain of 10000 and report a gain of 7000 in Q1 (15/6).

@ Gagan.... Yes, that is the way it should be reported.