Answer

1. F

   Facts

   For listed equity bought before 1 February 2018, cost is the higher of actual cost and the 31 January 2018 market value, capped at the sale value. This protects gains made up to that date. Schedule 112A needs scrip-wise details for such shares.

2. P

   Provisions and law

   • Sec 55 (now Sec 90)Cost for listed equity bought before 1 February 2018 is the higher of actual cost and the 31 January 2018 value (capped at sale value)
   • Sec 112A (now Sec 198)Long-term gains on listed equity taxed at 12.5% above ₹1,25,000 a year (transfers from 23 July 2024)
3. A

   Analysis

   Suppose you bought at ₹200, the 31 January 2018 price was ₹500 and you sold at ₹800. Cost becomes ₹500, so the gain is ₹300 per share, not ₹600. The portal user manual says scrip-wise entries are required for shares acquired before 1 February 2018, so aggregate entries can cause errors. Many brokers give a grandfathering report you can use.

4. C

   Conclusion

   1. 1Get the broker's grandfathering or tax P&L report.
   2. 2Find the 31 January 2018 value for each scrip.
   3. 3Enter each scrip in Schedule 112A.
   4. 4Check that the totals match Schedule CG.

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.