Income from Stocks F&O - reg

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2011 Dear Sir,

i am trading through stock market and investor in Equity and Future and option,
which ITR form could i submit for my Assessment year 2011-12

please suggest me.

reg

samba

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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19 July 2011 Income from trading in future's and option's of securities is 'normal business income'. If the absolute value of profit or loss of such transaction is less than Rs.60 lacs per annum ,u can opt presumptive tax provision and accordingly ITR 4S can be filed.

Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2011 thanks alot

but i submitted last year as ITR 2

for the same.

can i carry forward the loss of previous year (2009-10)

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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19 July 2011 If presumptive is opted (ITR-4S), carried forward loss can't be set off.

Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2011 then which for could i submit for my assessment, and iam also having income from salaries

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