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I have short term capital gains from sale of equity shares for India financial year 2013-14 as below (Figures are hypothetical, but the concept is exactly how I am facing it)

  • Gain of Rs.30000 in August 2013
  • Gain of Rs.25000 in November 2013
  • Loss of Rs.10000 in March 2014 after 16th of March.

There are no carried forward losses or other losses which I can set off against this. Using the official government website to file the return, I am using ITR 2 excel utility to fill the details. As I have a total gain of Rs.45000 for the financial year, have filled Schedule CG, section A2 to reflect this. Corresponding details are auto populated in Schedule BFLA as Rs.45000 short term capital gain taxable @ 15%.

While filling Section F1 of Schedule CG with information about accrual/receipt of capital gain, I need to split the gain into four different time duration as

  1. Upto 15/9 (i)
  2. 16/9 to 15/12 (ii)
  3. 16/12 to 15/3 (iii)
  4. 16/3 to 31/3 (iv)

I have provided Rs.30000 gain against Upto 15/9 (i), Rs.25000 gain against 16/9 to 15/12 (ii) and Rs.0 against 16/12 to 15/3 (iii). However, I can not provide -10000 against 16/3 to 31/3 (iv) as the field does not accept negative values. I couldn't see any other place where I can provide this detail either.

Now Section F1 of Schedule CG has a total of Rs.55000 and Schedule BFLA has a total of Rs.45000 which does not tally and the form can not be submitted.

Can anyone please help how I can represent this short term capital loss of Rs.10000 occurred after 16th of March in ITR 2 correctly?

  • did you get an answer to this question ? I am facing the same problem. Regards, Puneet – user32720 Aug 28 '15 at 13:42
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    The only way as it was told me was to adjust against the gain in last time duration where a gain was there. So instead of (1. Rs.30000, 2. Rs.25000, 3. Rs.0, 4. -Rs.10000) it should be filled in the form as (1. Rs.30000, 2. Rs.15000, 3. Rs.0, 4. Rs.0) This suggestion was found in this forum topic – Bijo Thomas Aug 29 '15 at 15:38

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