Equity / f and o losses to be filed

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Venkatesh (Querist)
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27 June 2014 If salaried person has loss in F & O and equities; whether the losses will be considered as Short term capital loss or it has to be shown as business income and the losses would be considered as business loss. ITR 2 or ITR 4 which should be used to file the returns. Please suggest

Nikhil Kaushik

Nikhil Kaushik (Expert)
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27 June 2014 F&O loss is considered as business loss.

ITR4 needs to be filed

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Rupesh Jain

Rupesh Jain (Expert)
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27 June 2014 F & o is business loss and file itr-4 you can forward the loss for future adj.

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Venkatesh

Venkatesh (Querist)
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27 June 2014 I have long term capital loss in equities, can I claim it as business loss along with Equities trading and F&O loss. Please suggest If I need to use ITR 4; can I do it for myself or should I contact any CA firm to do for me (Since the Turn over is less than 1 crore; No need of Audit). Please suggest.

Venkatesh

Venkatesh (Querist)
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28 June 2014 I have long term capital loss in equities, can I claim it as business loss along with Equities trading and F&O loss. Please suggest If I need to use ITR 4; can I do it for myself or should I contact any CA firm to do for me (Since the Turn over is less than 1 crore; No need of Audit). Please suggest.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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31 July 2014 dear Venkatesh,

audit is necessary if you have loss in F&O (even if turnover iss less than Rs 1 cr)

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