For Assessment Year 2026-27, long-term capital gains (LTCG) from equity are taxed at 12.5% when equity instruments are held for 12 months or more. According to reports from Taxmann Advisory and Research Team, the income tax rules provide an exemption of up to ₹1.25 lakh on LTCG from equity. This tax structure applies specifically to equity investments held for the required holding period.
Taxpayers do not need to provide scrip-wise details for reporting long-term capital gains under Schedule Capital Gains of income tax return forms for AY 2026-27, as reported by Taxmann Advisory and Research Team. The previous requirement for scrip-wise details was necessary only for cases where the grandfathering provision was applicable for reporting LTCG. The Finance Act 2018 introduced a grandfathering mechanism for gains made on listed shares up to January 31, 2018, but this provision is no longer applicable for current assessment year.
For property transactions, ITR forms require taxpayers to furnish detailed information about immovable property transfers under Schedule Capital Gains, according to Taxmann Advisory and Research Team. The schedule seeks comprehensive details including buyer's name, PAN/Aadhaar number, property address, purchase and sale dates, and country information. Buyer's PAN quoting is mandatory only if tax is deducted under section 194-IA or mentioned in sale documents. This reporting requirement applies regardless of whether the immovable property is situated in India or outside India.
The due date to file ITR-1 and ITR-2 for AY 2026-27 is July 31, 2026, as reported by Taxmann Advisory and Research Team. This deadline applies to all taxpayers requiring to submit these income tax return forms, ensuring compliance with the revised reporting requirements for different asset classes.
