01 July 2014
I have income from salary in Assessment year 2014-15 (8 Lacs) and also I have traded in F&O this year. I have a loss of -1.25 Lacs on a turnover of 8 lacs. I usually file my IT return online and user ITR 1 for salaried income. This assessment year I have additional loss from F&O Trading now I need to show this in my IT Return this assessment year. I have below questions
1) Do I need to File ITR4 or ITR4S for the additional income ?
2) Do I need to show Loss under Income from Business under this assessment year ?
3) Do I need to get my accounts audited because of F&O Income
4) Will I have additional Tax Liability because of F&O trading.
5) What all documents I need to send to Income tax department after filing my return
Appreciate if you can answer these questions in details.
CAclubindia
