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Clarification in respect of filling-up of the ITR forms for the Assessment Year 2019-20

..... ision) Dated: 8th August, 2019 The Income-tax return (ITR) forms for the Assessment Year (AY) 2019-20 were notified vide notification bearing G.S.R. 279(E). dated the 1st day April, 2019. Subsequently, the instructions for filing ITR forms were issued and the software utility for e-filing of all the ITR forms were also released. After notification of the ITR forms various queries have been raised by the stakeholders in respect of filling-up of the ITR forms. In order to address such queries, following clarifications are issued. - Question.1: I am a non-resident. The Taxpayer Identification Number (TIN) is not allotted in my jurisdiction of residence. How do I report the same in the column on residential status ? Answer: In case TIN has not .....

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..... company may be furnished if it is available. In case PAN of delisted company cannot be obtained, you may enter a default value in place of PAN, as NNNNN0000N . Question.6: In case unlisted equity shares are acquired or transferred by way of gift, will, amalgamation, merger, demerger, or bonus issue etc., how to report the cost of acquisition and sale consideration in the relevant column? Answer: You may enter zero or the appropriate value against cost of acquisition or sale consideration in such cases. Please note that the details of unlisted equity shares held during the year are required only for the purpose of reporting. The quantitative details entered in this column are not relevant for the purpose of computation of total income or ta .....

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..... is mentioned in the documents. Question. 12: Whether it is mandatory to provide ISIN details and scrip-wise computation of Long Term Capital Gains (LTCG) arising on sale of Shares/Mutual Funds units on which STT has been paid? Answer: The tools for computation of LTCG under sections 112A and 115AD have been provided in the departmental utility for the convenience of taxpayers. These are optional tools designed for computation of the final figures of LTCG, which is then populated in the respective items in Schedule CG. Alternatively, the taxpayers can themselves compute the aggregate long term gain or loss manually, and input the same directly in the respective items in Schedule CG. Question.13: An unlisted company is required to furnish de .....

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..... lding in the Schedule SH-1 of ITR-6? Answer: No. However, please ensure to tick the option Yes‟ against the item whether the company is a producer company as defined in section 581A of Companies Act, 1956? in Part-A General. Question.18: A company is required to disclose break-up of all payments and receipts during the year, in foreign currency, as per Schedule FD of ITR-6 (if it is not required to get the accounts audited u/s 44AB). Please clarify whether only the receipts/payments related to business operations in India are required to be reported in Schedule FD? Answer: Yes. In Schedule FD, the break-up of receipts and payments in foreign currency is required to be reported only in respect of business operations in India. Question. .....

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