Fact-check notes
Last fact-checked: 2026-05-30
Tax caution: AY 2026-27 covers FY 2025-26 and continues under the Income-tax Act, 1961. New Act, new section and new form references should be verified against official utilities before filing.
Use this page as preparation guidance. A professional should verify the active law year, notification, portal utility and source records before filing or taking a tax position.
What this covers
Section 112A covers long-term capital gains on listed equity shares and equity-oriented mutual funds where STT and holding-period conditions affect tax reporting.
- LTCG classification depends on asset type, holding period and STT conditions.
- Annual exemption threshold and rate should be checked for the active year.
- Grandfathering may matter for old holdings acquired before the specified cut-off.
- ITR schedules need scrip-wise or summary reporting depending on utility requirements.
Who this is for
- Investor selling listed shares.
- Mutual fund investor redeeming equity funds.
- Taxpayer with old grandfathered holdings.
- CA reconciling broker statement with AIS.
Documents and data to verify
- Broker capital gains report.
- Demat statement and contract notes.
- STT evidence and purchase cost.
- AIS securities transaction data.
Common mistakes to avoid
- Using wrong holding period.
- Ignoring grandfathering for old shares.
- Mismatch between broker report and AIS.
- Not setting off losses correctly.
How to proceed
- Confirm the applicable financial year, assessment year, taxpayer type, state and portal status before acting.
- Reconcile portal data with books, AIS/Form 26AS, GST returns, contracts, invoices, bank statements and source documents.
- Prepare a written computation, checklist, filing note or response with assumptions clearly stated.
- Download acknowledgements, challans, workings and evidence after filing or submission.
FAQs
Can WorkIndex help with this?
Yes. Post the facts and documents; relevant experts can quote for filing, advisory, reconciliation, registration, appeal support or ongoing compliance.
Is this page final legal advice?
No. Use it to prepare. A professional should verify the active law year, notification, portal utility and records before filing or taking a tax position.
What should I mention while posting?
Mention the year, state, form, deadline, amount involved, documents available, portal status and whether you need filing, correction, advisory or representation.