17 June 2019
ONE OF MY CLIENTS EARNING INCOME OF Rs.10 LAC UNDER THE HEAD SALARY. AND ALSO INCURRING LOSS OF Rs.43,000 FROM F&O. HOW TO DISCLOSE THIS LOSS IN IT RETURN. PLEASE GUIDE ME
17 June 2019
Disclose this as business loss and carry forward. Loss from business and profession cannot be set off against income chargeable to tax under the head “Salaries”.