• Validation of Capital gains sheet

As you know 14/06/2019, CBDT issued a Circular about computation of LTCG

”In case of long term capital gains (LTCG) arising on sale of equity shares or unit of equity oriented fund or unit of business trust on which STT is paid, separate computation of capital gains should be made for each scrip or units of mutual fund sold during the year and aggregated amount should be provided in item No. B4 (ITR 2)/B5( ITR 3) (in case of residents) or item No. B7 (ITR 2)/B8(ITR3)(in case of non-residents). The Utility has been updated and relevant validation rules are relaxed . Please download the latest utility available under Downloads. Updated utility of ITR-5 for the same change will be available shortly.”

I find that relevant validation rules are actually not relaxed. I downloaded ITR 2 on June 25, 2019.

 When I try to validate after furnishing consideration and cost of acquisition (as computed under the law i.e. higher of actual cost of consideration and lower of FMV and sale value, it is rejected with following suggestions:

Please enter the Cost of acquisition in Point B4
Please enter the Cost of acquisition if the long-term asset was acquired before 01. 02.2018 in Point B4
Please enter the Fair Market Value of capital asset as per section 55 (2) (ac) in Point B4
Please enter the Full value of consideration in Point B4
Please ensure that the Total of the values in Table F in sheet CG for LTG 10% is equal to item 3 (vii) of schedule BFLA Rs……