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Schedule 112A ITR2

Basant (Legal) (95 Points)

21 July 2020

For LTCG on listed shares where STT is paid schedule 112A is to be filled. On save error is shown saying fill up mkt value as on Jan. 31st 2018. But if the shares are purchased after 1st Feb 2018, then this 31st jan value is not applicable to compute tax liability so should one put this market price as 0 to avoid wrong computation of liability?

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5 Replies

annu Goyal (1102 Points)
Replied 21 July 2020

Yes, share are purchased after 31.01.2018 then you can use COA as on date of purchase

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Basant (Legal) (95 Points)
Replied 21 July 2020

Thank you Goyalji.. so if I put 0 in the field of price as on 31.01.18 then my COA will be considered so it is allright to do that..or should i put the COA price in the field.. i thought 0 is better as it will thrn be clear that the shares are pirchased after thae relevant date since the price cannot be 0

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annu Goyal (1102 Points)
Replied 21 July 2020

Yes @ Mr.Basant

1 Like

Basant (Legal) (95 Points)
Replied 21 July 2020

Thank you Sir.

Sridharan V (2 Points)
Replied 05 September 2020

If you fill 0 in column 10 in schedule 112A for purchases made after 31-01-18 then it takes purchase price of 0 for LTCG calculation and arrives at wrong inflated figure. If the purchase price again filled in column 10, then you get the correct value.