About return of share traders

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Kailas Mate (Querist)
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10 December 2013 My Brother has trading shares in Equity and commodity. Now he has in loss & also file income return. So which form is used for that & which reports is made for that.Reply Urgent. Thanks

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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10 December 2013 Had the query been asked before the due date it could be understood as urgent for the purpose of carrying forward the losses to the next assessment year.
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Generally, urgency at this stage indicates that the assessee requires either piece of mind or piece of money.
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Any way, the above should not be construed as the delaying tactics in responding the query.
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Trading activity means business. He has to file his return in ITR 4.
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For the requirement of the financial statements and report, you must contact a CA.
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Kailas Mate

Kailas Mate (Querist)
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11 December 2013 thanks sir.

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