• Schedule FA in ITR 2

I've purchased stocks of 4 different companies listed in NASDAQ. This purchase happened through Interactive Broker account(https://www.interactivebrokers.com/en/home.php). Which table should I fill in schedule FA ? Do I need to fill for each stock or only the broker account is sufficient ?
Asked 16 days ago in Income Tax

Ordinary residents (ROR) are liable to furnish details in Schedule FA. Furnish details of broker account in table A1 and details of shares in A3. For conversion into INR, use rate of exchange "TT buying rate" on the date of investment or date of the peak balance or closing date of the accounting period. The details are required for the calendar period 2021. Also include the cost of such investments in Schedule AL.

 

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Vivek Kumar Arora
CA, Delhi
4476 Answers
606 Consultations

5.0 on 5.0

- Preferably it should capture all entries separately.

Vivek Kumar Arora
CA, Delhi
4476 Answers
606 Consultations

5.0 on 5.0

In my opinion, you have to make 1 entry with the sum total of the purchase costs involved in purchasing the share. 

Puja Sharma
CA, Jaipur
53 Answers

Not rated

It depends on whether you own that share or is it just a fraction of shares given to you by depository.

 

If you are the owner then each shares needs to be mentioned.

If you are with depository then only one account of depository.

 

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Thank you.

Naman Maloo
CA, Jaipur
4053 Answers
67 Consultations

5.0 on 5.0

Hi, 

 

You need to mention it in schedule FA and if the income is above Rs.50 lakhs then in schedule AL as well. You have to report transaction wise if you own the securities directly. In case you own it through intermediary, mention the account with intermediary with one amount. 

 

Regards

Prerna Peshori

Prerna Peshori
CA, Pune
86 Answers

5.0 on 5.0

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