Hi Team,
Till last year the 112 template was having only one column of "Share/Unit acquired(1a)" which had value of "AE" and "BE", this year we see additional column "Share/Unit Transferred(1b)", does anyone help me what should be the value in this column?
First one is for shares sold before 22. 07.2024 which is taxed at 10% while second one is for sell after that day which is taxed at 12.5%.
Thanks for the response, however I need to know the exact values that needs to be added in the excel sheet so it doesnt give any validation error.
You are required to fill the sell value, cost of aquisition & expenses relative to transfer, separately for each time segment. Rest utility takes care.
No sir, Vikrant's question is something else. its regarding the second column in the Excel templete. In the templete we need to manually enter whether the share was sold on or after 23rd July. So Vikrant is trying to check if there is a code for the same.
@ Vikrant, In case the shares purchased are after 31st Jan 2018. you will not need to fill in everything. you just need to update it twice by clubbing the 23 July sales categorising it before and after.
In the new column 1 (b) use BE for "before 23 july" , use AE for "on or After 23 July " based on the transaction date related to share tranfer.
For the details, you may refer CSV Help file of Schedule 112A tab.
In the new column 1 (b) use BE for "before 23 july" , use AE for "on or After 23 July " based on the transaction date related to share tranfer.
For the details, you may refer CSV Help file of Schedule 112A tab.
Instructions to fill CSV file:
1a. For column referring to 1a of schedule 112A in the return, ‘Share/Unit acquired’, enter the value
‘BE’ if the share/unit was acquired on or before 31st January 2018. If share/unit was acquired
after 31st January 2018, enter value ‘AE’.
1b. For column referring to 1b of schedule 112A in the return, ‘Share/Unit Transferred’, enter the
value ‘BE’ if the share/unit was transferred before 23rd July 2024. If share/unit was transferred
on or after 23rd July 2024, enter value ‘AE’.
Refer to the Instructions for filling Schedule 112A on the IT Return Filing portal. Link for youre referece:
https://static.incometax.gov.in/iec/foservices/assets/itr-shared/documents/112A_115AD_CSV_Instructions.pdf
CAclubindia
