How to enter details under Section 112A with the IT Utility while filing ITR 2?

In the utility, while filling trade details in schedule 112A of ITR-2, if the trade value is LTCL the last column is showing only zero and not as loss. How do I enter long term capital loss arising from equity shares or mutual funds in ITR-2 ?

Hey Hiral,

n the last column of Schedule 112A, the gain or loss is reflected as zero when the cost of acquisition is derived from the sales price. Here is an example to help you understand better:

Units = 10
Sales Price per unit = 50
FMV per unit = 60
Purchase Price per unit = 40
Cost of Acquistion as per grandfathering rule = 50*10 = 500
Thus, LTCG = Sales Value - Cost of Acquisition = 500 - 500 = 0

If there is a Long Term Capital Loss, it would be reflected as a negative value in Schedule 112A and total loss would be reflected in Schedule CYLA. Here is an example:
Units = 10
Sales Price per unit = 50
FMV per unit = 70
Purchase Price per unit = 60
Cost of Acquistion as per grandfathering rule = 60*10 = 600
Thus, LTCG = Sales Value - Cost of Acquisition = 500 - 600 = -100

Hope this helps :slight_smile:

You can also import your trades onto Quicko and we will set off losses and Capital Gains/Losses for you.