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Sreekumar (Querist)
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25 April 2011 Hello,

I fall under 10% category in undr salary income. I have income from bank deposits (Savings a/c) around 25000/- p.a and loss of 35,000/- in share trading (with turnover of less than 40 lakhs). Please let me know which ITR form I need to use. Last year I had only salary income. ITR-2 or ITR-4.
Thanks in advance

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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25 April 2011 For the assessment year 2011-12, ITR-2 may be used if loss from share trading is proposed to be shown under the head "capital gains". On the other hand if share trading is proposed to be shown under the head "income from business",in view of section 44AD, ITR- 4S need to be used.

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