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LOSS ON MUTUAL FUND

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 June 2011 march.2008 I invested Rs. 2,50,000/- in mutual fund and redeem the same on 04/03/2011 .Loss incured for the same is 1,55,615/-.

While filing my Income tax return how I will treat the same loss and in my ITR-1 which column I have to show the same
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
13 June 2011 ITR-1 is not the form. Seems 1TR-2 is the appropriate form and details thereof to be shown in schedule CG.
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Querist : Anonymous

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Querist : Anonymous (Querist)
13 June 2011 Income sources are salary, house rent etc...
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
13 June 2011 Still ITR-1 can't be used. See instruction no. 2 in https://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/PDF/Ay2011-12/sahaj_instructions_2011.pdf
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Querist : Anonymous

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Querist : Anonymous (Querist)
13 June 2011 ITR-2 MENTIOEND AS-
For Individuals and HUFs not having Income from Business or Profession.

Income from Salary means - Profession income
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
13 June 2011 INCOME FROM SALARY IS NOT PROFESSIONAL INCOME
Mr WARRIER HAS ADVISED U CORRECTLY
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Querist : Anonymous

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Querist : Anonymous (Querist)
14 June 2011 sir,
Thanks for clarifying my doubt
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