Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Information about accrual / receipt of CG

ramesh (Accountant) (261 Points)

21 July 2022

Is it necessary to give quarterly details of short term and long term capital gains taxable at various rates, in the capital gains schedule of ITR 2

Reply
Follow
Share

9 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178014 Points)
Replied 21 July 2022

Yes, without which ITR is not getting validated.

Upgrade to CAclubindia Pro. Subscribe Now!

ramesh (Accountant) (261 Points)
Replied 21 July 2022

Thank you sir...Is it possible to fill the net amount in any one of the quarter so that the total of all five columns become tally with schedule BFLA . Or how to calculate quarterly CG it's so much time taking process

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178014 Points)
Replied 22 July 2022

Take help of the capital gain statements from broker or registrar/s of MFs.

Otherwise, fill total gain in first quarter (provided you have nil tax liability)

ramesh (Accountant) (261 Points)
Replied 22 July 2022

Ok sir thank you so much, the assessee has no tax liability.... So I fill the total gain in first quarter as you said

Ramnath R (2 Points)
Replied 03 July 2023

I have short term capital gains for two quarters and loss in the last quarter resulting in net short term capital loss. I am unable to validate and the suggesstion is "In Schedule CG, enter the value in Table F Sl. No. 1 the breakup of all the quarters equal to the value from item 3iii of schedule BFLA". Short term capital loss could not be fed in the information about accrual/receipt of capital gains as there is no negative sign to show the loss. As such validation is pending. Tax liability is nil after short term capital loss adjustment. CFL also shows the net loss to be carried forward. Pl advise where and how to key in the short term capital loss in the table so that it tallies with the stcl mentioned in the STCG ss loss.

Regards,

R. Ramnath

Upgrade to CAclubindia Pro. Subscribe Now!

Y K Gupta (2 Points)
Replied 23 July 2023

I also have similar problemof distributing losses across quarters.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178014 Points)
Replied 23 July 2023

@ Ramnath R ...

When there is net STCL, you have to adjust it LTCG or carry forward it.

NO NEED TO DISTRIBUTE IT IN QUARTELY BREAK UP. AMOUNT IN ALL QUERTERS WILL BE '0'.

J Varghese (2 Points)
Replied 15 February 2024

How to split Capital Gains in to 5 columns of 'F Information about accrual/receipt of capital gain' with the lumpsum value from 3iii of schedule BFLA (Spreading previous losses illogically)