Loss in Trading in F&o and Short term

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Nandish (Querist)
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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...

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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.

Nandish

Nandish (Querist)
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27 July 2009 IF i should have filed ITR4, now what is the way to set right these mistake...

Please reply..

Nandish

Nandish (Querist)
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27 July 2009

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