Daily Archives: May 11, 2026

Schedule ESR – Expenditure on scientific Research etc. (Deduction under section 35 or 35CCC or 35CCD) AY 2026-27 Schedule ESR in the Income Tax Return forms deals with expenditure on Scientific Research and related deductions under sections 35, 35CCC, and 35CCD of the Income Tax Act. In this schedule, taxpayers must disclose details of various scientific research expenses for… Read More »

Schedule CG – Detail of Capital Gains AY 2026-27 Schedule CG in the Income Tax Return (ITR) forms is used to report capital gains earned from the sale or transfer of capital assets. This schedule requires taxpayers to declare the nature of capital assets sold, such as land, buildings, shares, mutual funds, bonds, or other… Read More »

Schedule 115AD(1)(b)(iiii)-Proviso – Sale of specified equity share AY 2026-27 ‘Schedule 115AD’ deals with the reporting of long-term capital income of a specified fund or a Foreign Institutional Investor. This schedule seeks details of gains where Securities Transaction Tax (STT) is paid and section 112A applies. The schedule captures detailed information for each transaction, including: Whether the… Read More »

Schedule VDA – Virtual Digital Asset AY 2026-27 Schedule VDA in the Income Tax Return (ITR) reports income arising from the transfer of Virtual Digital Assets (VDAs). It requires taxpayers to furnish detailed transaction-wise information for every transfer of VDAs during the financial year. The information to be disclosed includes the serial number of each… Read More »

Schedule OS – Income from other sources AY 2026-27 Income from other sources is a residuary head of income and sweeps in all such incomes that fall outside the other four heads of income. However, certain incomes will always be taxable under the head’ income from other sources’, inter alia, winnings from lotteries, gifts, interest… Read More »

Schedule CYLA – Details of Income after set-off of current year’s losses AY 2026-27 ‘Schedule CYLA’ (Current Year’s Loss Adjustment) in the Income Tax Return (ITR) form reports and adjusts losses incurred during the current assessment year against income earned under various heads. It applies to taxpayers who have incurred losses in heads such as… Read More »

Schedule BFLA – Details of Income after Set off of Brought Forward Losses of earlier years AY 2026-27 Under the Income-tax Act, losses that cannot be set off in the same year due to the inadequacy of eligible profits are allowed to be carried forward to the next assessment year for adjustment against the eligible… Read More »

Schedule CFL – Details of Losses to be carried forward to future years AY 2026-27 ‘Schedule CFL’ (Carry Forward of Losses) in the Income Tax Return (ITR) captures details of losses that remain unadjusted in the current assessment year and are being carried forward to subsequent years. This schedule applies to taxpayers who have incurred… Read More »

Schedule UD – Unabsorbed depreciation and allowance under section 35(4) AY 2026-27 “Schedule UD” deals with the reporting of unabsorbed depreciation and allowances under section 35(4) of the Income Tax Act. This schedule is relevant for taxpayers who have depreciation or capital expenditure on scientific research that could not be fully set off against income in previous… Read More »