Imp CBDT Clarification Reg Disclosure Of Long-Term Capital Gain In Income Tax Return

The CBDT has issued an important clarification regarding the requirement to furnish scrip wise details of long term capital gains in Schedule 112A and 115AD(1)(iii).

The clarification reads as follows:

“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. 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 scrip wise details. Taxpayers may exercise either option based on their convenience. This facility is now available in ITR-2, 3, 5 & 6 utilities”