For filing itr
This query is : Resolved
chandni khatri
(Querist)
22 July 2014
can someone file itr when he/she have income from shares. if he/she can file then which itr.????
the shares are old bt today shares hav some value then how will it treat for filing itr...?????
the shares are old bt today shares hav some value then how will it treat for filing itr...?????
23 July 2014
If the income from dhares id short term or long term capital gain then you can file ITR2. If the income is from intraday share trading then you need to file ITR4.
chandni khatri
(Querist)
23 July 2014
itr 4 is applicable for business and profession but in that case there is no business it s just sale and buy of shares..
in such a case some of shares were sold and some remains unsold...
and shares that are unsold becomes longterm shares and value of those shares become income of him/her...
in such a case some of shares were sold and some remains unsold...
and shares that are unsold becomes longterm shares and value of those shares become income of him/her...
CA Mohit Bansal
(Expert)
23 July 2014
Gain from those shares which are sold during the PY is only taxable and not notional gain on unsold shares.
So you should use ITR2
So you should use ITR2
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