New auto populated stcg fields

@Quicko @siva


As per new plan in current assessment year govt plans to populate ltcg stcg fields with data recd from broker exchange etc

How they will get that day? Exchange may not know our p and l

Will they get such reports from brokers?can u throw some light on this?

It Can be possible through the way of broker where TDS will be Applied as per your post. But maybe this will create ruckus as some brokers are bad in money making and they will hold these money & may use that money. It’s Just My Point Of View.

Hey @ksksat

The Central Board of Direct Taxes (CBDT), the apex policy-making body for income tax has joined hands with SEBI, for the exchange of data and have signed a formal Memorandum of Understanding (MoU). This will facilitate sharing of data and information on an automatic basis between the two authorities.

Hope this helps! :slight_smile:

@Quicko but how sebi will know every tom and henry’s p&l without involvement of brokers?

This is not just flagging high value transaction but capturing even a Rs 5 gain on ltcg or stcg

Hey @ksksat

The ITD is aiming to ease the tax compliance burden on taxpayers by using details of capital gains from listed securities, dividend income, and interest from banks, post offices, etc. with pre-filled. The CBDT will use databases like Annual Information Return (AIR), Central Information Branch (CIB) data, or TDS/TCS returns for gaining information.

Hope this helps!