Giving Scrip wise details of long term capital gains in Schedule 112A of ITR is optional – CBDT clarification
As per advisory hosted at income tax e-filing website, Schedule 112A and 115AD(1)(iii) of long term capital gain are provided in the Income Tax Return software as per the Instructions to the Notified ITR form and based on taxpayer feedback.
The advisory says that taxpayers have an option to either enter the Scrip wise details of long term capital gains in Schedule 112A and 115AD(1)(iii) so that the correct values are populated in the CG Schedule or enter the self-calculated aggregate value of long term capital gains directly under respective items in schedule CG in terms with Sec 112A or 115AD(1)(iii) without entering scripwise details.
Taxpayers may exercise either option based on their convenience, says the advisory.
This facility is now available in ITR-2, 3, 5 & 6 utilities
The news flashed at income tax efiling website is as under:
Note: The concept of grandfathering in the case of LTCG on sale of equity investments was introduced by the Finance Act 2018
- Optional pricing in preferential issue of equity shares-Method, lock-in period
- Conditions for LLP, registered firm/company to be recognised as insolvency professional entity
- Escrow account deposit in case of indirect acquisitions / takeover. SEBI Notification
- Manner of furnishing of return or details of outward supplies by SMS facility
- Extension of validity of AEO certification to 30.09.2020