Filing of return using compu tax software

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Akhil Jain (Querist)
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23 July 2013 Last year I received a gift of Rs. 50,000 from my uncle and I started trading in Commodity with my uncle. We further transferred some funds and now we have a loss of approximately Rs.1,10,084. I have a interest income of about Rs. 8000. I want to file my income tax return using compu tax. kindly guide me.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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14 August 2013 1. The gift is exempt in your hands. Show the same under exempt income.

2. Trading in commodity is a business income. Show the loss under the head Income from Business or Profession.

3. Interest income is taxable under the head Income from Other Sources.

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