ITR-2 filing for AY 2026-27: 9 key schedules relevant for stock traders and investors

Schedule AL

In this schedule, taxpayers having income above ₹1 crore are required to declare their assets and liabilities. Details to be reported include immovable property (land and buildings), movable assets (like vehicles, jewellery, archaeological collections, shares, and securities), cash in hand, and other valuable possessions. The taxpayer is also required to report liabilities in relation to these assets, such as loans taken for property or vehicle purchases.

Schedule AL applies to ITR-2 and ITR-3.

Schedule FA

Schedule FA applies to ITR-2, ITR-3, ITR-5, ITR-6 and ITR-7. In this schedule, you are required to report details of foreign assets and income from any source outside India

You have to fill Schedule FA if you hold, own, or have a beneficial interest in foreign assets. You need to fill this if having income from any source outside India.

The details to be reported in this schedule include

• Foreign bank and custodial accounts

• Equity or debt interest in entities

• Insurance or annuity contracts

• Immovable property

• Capital assets and financial interests

• Signing authority in foreign accounts, trusts, and any other foreign-sourced income.

Schedule FA is structured into multiple categories, and for each of them, you have to furnish specific details like country name and code, ZIP code, nature and ownership of asset, account or property details, investment value, income derived, and whether such income is taxable and reported in the return.

It is important to fill in this schedule correctly to avoid tax notices.

Schedule SI

The Schedule SI is required to be filled to report income that is chargeable to tax at special rates.This includes incomes such as certain capital gains, lottery winnings, unexplained income, and other categories that are not taxed at the normal slab rates.

In ITR-2, ITR-3, ITR-5, ITR-6 and ITR-7, this schedule is auto-populated based on the data provided in other schedules of the return and does not require any separate input from the taxpayer.

Schedule CFL

This is one of the important schedules for traders and investors as it enables them to carry forward losses. In Schedule CFL (Carry Forward of Losses), you can report details of losses that remain unadjusted in the current assessment year and are being carried forward to subsequent years.

Schedule CFL can be used by taxpayers who have incurred losses under different heads of income, including house property, business or profession (including speculative business), capital gains (short-term and long-term), or other sources, but are unable to set them off against income in the current year.

Without reporting these losses accurately in Schedule CFL, taxpayers can lose the right to claim them in the future.

Schedule BFLA

This schedule captures details of income after set off of "Brought Forward Losses" of previous years.

The tax rules allow you to carry forward losses to the next assessment year for adjustment against the eligible profits of that year.

‘Schedule BFLA’ helps you report the adjustment of losses that were incurred in previous years and have been carried forward against the current year’s income.

Schedule BFLA applies to ITR-2, ITR-3, ITR-5 & ITR-6.

Schedule OS

This schedule is important for declaring income from other sources. Generally, income that is not included in the four heads of income (Salaries, Business/Profession, Capital Gains, or House Property) is reported as income from other sources.

However, certain incomes are always taxable under the head "income from other sources." These are winnings from lotteries, gifts, and interest on enhanced compensation.

This schedule captures details of income such as interest from savings and fixed deposit accounts, dividends, winnings, and other miscellaneous income.

This schedule also helps in claiming deduction of eligible expenses under Section 57, including expenses related to earning of interest, dividends, and other sources.

Schedule VDA

The schedule is relevant for individuals who are into crypto trading.

Under this schedule, you are required to furnish detailed transaction-wise information for every transfer of virtual digital assets (VDAs) during the financial year. Some of the key information required to be disclosed is as follows:

• Serial number of each transaction

• Date of acquisition

• Date of transfer of the asset

• Head under which the income will be taxed (as capital gains)

• Cost of acquisition (with specific instructions if the asset was received as a gift), and the consideration received from the transfer.

The schedule calculates the final income from the transfer by deducting the cost of acquisition from the consideration received.

This schedule doesn't allow set off of losses. Any loss is required to be reported as nil.

Schedule CG

In this schedule, you are required to report details of capital gains earned from the sale or transfer of capital assets. Schedule CG distinguishes between short-term and long-term capital gains, as both are taxed differently. It helps calculate the net taxable capital gain or loss, which flows into the computation of total income and tax liability.

You have to declare the following details under this schedule:

• The nature of capital assets sold, such as land, buildings, shares, mutual funds, bonds, or other capital assets

• Details like date of acquisition, date of transfer, sale consideration, cost of acquisition, improvements, and expenses related to the transfer.

• Indexation benefits (where acquisition is before and transfer is on or after 23rd July 2024)

• Exemptions claimed under various sections (like sections 54, 54F, 54EC, etc.)

• Set-off of losses

Schedule 112A

This schedule helps in the calculation of long-term capital gains (LTCG) from equity shares, equity mutual funds, and REITs/InvITs where Securities Transaction Tax (STT) has been paid. LTCG up to ₹1.25 lakh from such assets are exempted from tax.

You have to report transaction-wise information to correctly compute the taxable portion of LTCG after considering the grandfathering provisions. The schedule captures basic details of each transaction, such as:

• Whether the shares/units were acquired before or after 31st January 2018 and before or after 23rd July 2024

• Name of the share/unit, its ISIN code

• Number of shares/units transferred, and the sale price per share/unit.

• Full value of consideration, depending on when the shares were acquired.

• Total fair market value as per section 55(2)(ac)

• Any expenditure incurred wholly and exclusively in connection with the transfer

The grandfathering provision applies to assets acquired before 31 January 2018.

This schedule is not available separately in ITR-1 and ITR-4. In these forms, you can report LTCG up to ₹1,25,000 from equity shares and equity mutual funds.