Income tax- capital loss
This query is : Resolved
07 August 2011
i file income tax return with capital loss of 140000/- but my demat a/c correct them and this loss decrease at rs. 34000/- aprox.
loss carried forward
what will be do
loss carried forward
what will be do
07 August 2011
If the IT was filed on or before 31st July, u can now file a revised return u/s. 139(5)
07 August 2011
yes return file on 30 july, 2011
07 August 2011
you can now file a revised return mentioning the correct loss figure and quoting the acknowledgement number+date of filing of original return , and marking Type of return as Revised and section code as 139 (5) in the Revised return,
07 August 2011
There is one precaution that should be taken.
I hope you know it but loss on shares is calculated only when it is sold. I mean to say that DEMAT A/c's normally show losses or profit on the basis of current market price. That should not be considered for the purpose of income tax.
I hope you know it but loss on shares is calculated only when it is sold. I mean to say that DEMAT A/c's normally show losses or profit on the basis of current market price. That should not be considered for the purpose of income tax.
07 August 2011
i not see rs. 120000/- loss on one gujrat share is going loss. i see this loss when i filing the return
i file the return and complaint to kotak mahindra bank than today bank correct this and my loss down 34000/- appx.
i file the return and complaint to kotak mahindra bank than today bank correct this and my loss down 34000/- appx.
07 August 2011
file revise return
09 August 2011
you can file the revised return as provided under sec 139(5), it says:
[(5) If any person, having furnished a return under sub-section (1), or in pursuance of a notice issued under sub-section (1) of section 142, discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier
[(5) If any person, having furnished a return under sub-section (1), or in pursuance of a notice issued under sub-section (1) of section 142, discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier
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