income/loss from shares transaction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 May 2011
SIR,
I AM A SALARIED PERSON. I HAD MADE SOME TRANSACTIONS IN STOCK MARKET AS PER MARKET EXPECTATIONS. DURING THE TRANSACTION I MADE LOSS. HOW CAN I SHOW THESE LOSSES IN ITR DURING THE SUBMISSION OF CURRENT ASSESSMENT YEAR AND WHICH ITR CAN I USE?
SINCE I HAD INCURRED LOSS, IS IT NECESSARY TO SHOW IN ITR? PLEASE GIVE ME CLARIFICATIONS IN DETAILS AND OBLIGE.
THANKING YOU.
I AM A SALARIED PERSON. I HAD MADE SOME TRANSACTIONS IN STOCK MARKET AS PER MARKET EXPECTATIONS. DURING THE TRANSACTION I MADE LOSS. HOW CAN I SHOW THESE LOSSES IN ITR DURING THE SUBMISSION OF CURRENT ASSESSMENT YEAR AND WHICH ITR CAN I USE?
SINCE I HAD INCURRED LOSS, IS IT NECESSARY TO SHOW IN ITR? PLEASE GIVE ME CLARIFICATIONS IN DETAILS AND OBLIGE.
THANKING YOU.
14 May 2011
1) Speculation loss , can not be adjusted or carried forward , use ITR 1/2 as you were using
2) Short term capital loss : can be carried forward for adjustment in next year, (available upto 8 years) use same form use ITR 1/2 as you were using previous
3) Future and Option loss : its business loss and can not be settled with other income, if u want to carry forward the loss , use ITR 4
2) Short term capital loss : can be carried forward for adjustment in next year, (available upto 8 years) use same form use ITR 1/2 as you were using previous
3) Future and Option loss : its business loss and can not be settled with other income, if u want to carry forward the loss , use ITR 4
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