Help with Long term capital gains calculation

I bought shares worth INR 70,000 in 2017 which are now worth around INR 1,80,000. It is long term capital gains, how much tax do I have to pay?

Hey @Tanmay_mehta,

In Budget 2018, the grandfathering rule was announced u/s 112A which implies that - long term capital gains above INR 1 Lakh will be taxed at 10% after 1st Feb 2018.
Therefore to calculate LTCG:

  • Take the equity value as on 31st Jan 2018 to be X
  • so LTCG = Sales price - value as on 31st Jan 2018
  • LTCG = 1,80,000 - X

Any tax on LTCG will be 10% above INR 1 Lakh

  • LTCG below INR 1 Lakh is fully exempt
  • LTCG above INR 1 Lakh will be taxable at 10% for the amount above INR 1 Lakh only.

Hope this helps!

Refer to our learn article on LTCG on sale of Equity Shares and Equity Mutual funds

My LTCG on mutual fund are to tune of 60k. However while filling the ITR2, it is asking the qtrly value to be be filled . Where can i get the quarterly gain earned to fill in ?

Hi @Yantra_74
Quarterly Break up of Capital Gains is required while filing ITR 2. You need to enter the Gains in the quarter when you sold the mutual funds and Gains were realized.

Received the loss/gain details in consolidated statement Summary from CAMS. But they are not adding up to the actual LTCG value. Ihave losses and gains too. So am now confused how to match to the value.

Can i randomly put any value in each of those 5 quarters, however ensuring the sum of all qtrs add up to actual LTCG value ?

Hi @Yantra_74

You need to get the transaction statement from CAMS where you can get the dates of the transaction done and thus you will get the profit/loss for each quarter (Net gain/Loss) and the total of each quarter should match to total LTCG of the year.

Thank you… already tried that, but somehow values are not matching up. will recheck again. Which column to be considered, ltcg with indexation or without ? Pls confirm.

Hey @Yantra_74, you will have to consider the column with no indexation benefit.

Thank you, shall try on the suggested lines.