Loss in Trading in F&o and Short term
This query is : Open
25 July 2009
I am full time salaried employee.
I have traded in Futures & Options only for 5 months (September to January 2008) and have incurred a loss of 62K in F&O and loss of 12K in Short term investment in Equities for full year.
I have clubbed both the losses 74K as Capital gain loss and filed in ITR2 form under Capital gains.
Since i am a full time salaried person, all my trading has been carried out by my broker on behalf of me, can i consider my F&O trading as Investment and declare the losses under Short term Capital loss.
IF i should have filed ITR4, now what is the way to set right these mistake...
I have traded in Futures & Options only for 5 months (September to January 2008) and have incurred a loss of 62K in F&O and loss of 12K in Short term investment in Equities for full year.
I have clubbed both the losses 74K as Capital gain loss and filed in ITR2 form under Capital gains.
Since i am a full time salaried person, all my trading has been carried out by my broker on behalf of me, can i consider my F&O trading as Investment and declare the losses under Short term Capital loss.
IF i should have filed ITR4, now what is the way to set right these mistake...
25 July 2009
Trading in derivatives is business. So loss incurred on F & O transactions is business loss. U are supposed to file ITR-4.
27 July 2009
IF i should have filed ITR4, now what is the way to set right these mistake...
Please reply..
Please reply..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Free lancer income
- Long Term Service award taxability in hands of company
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
