Investors must prepare tax-filing checklist early to avoid hiccups

With the task turning more complex, procrastinating will compound your problems

Filing of income-tax returns (ITRs) just turned more time-consuming and complex for people who engage in frequent share transactions. If you sold shares during the last financial year, then you have to fill up a number of details (name of share, sale price per unit, full value of consideration, etc) for Assessment Year 2020-21.

This rule applies only to listed shares or units held for more than 12 months — that is to long-term capital gains or losses. Says Gopal Bohra, partner, N.A. Shah Associates: “This rule does not apply to securities held for less than 12 months.”

The I-T