LTCG tax on equity investment was re-introduced in the fy 2018-19 with a grandfathering clause. And this has been simplified for all the taxpayers who need to report it in ITR filing for AY 2019-20. In the earlier case, taxpayers needed to report such gains scrip-wise on equities or mutual fund units and then provide the aggregate amount. But in the latest round of notification by the CBDT, there has been provided an option to give the details either on a per scrip basis or enter the self-calculated aggregate value of long term capital gains directly under respective items without entering scrip wise details.

So, taxpayers to their discretion and convenience can now exercise the option.

According to the CBDT update, "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."

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