Lost 37lacs in cyber fraud. Filled FIR


This query is : Resolved 

Quick Summary
A software professional lost a significant amount to cyber fraud and has filed an FIR, with a small portion recovered. They are inquiring if this loss can be claimed on their IT return. While the loss cannot be claimed if you have only salary income, it may be possible to claim it as a business loss if you receive professional fees.

04 August 2024 Hi, I have lost 37.5lacs in cyber fraud on 11th July 2024. FIR is logged with 10% recovered from 37lacs. Can I show this loss in my IT Filling in 2025 AY? If so what are the details I need to furnish?

Thanks,
Sravan

06 August 2024 Are you earning anything from business/profession?

06 August 2024 Hi Sir,
Iam working as a software professional since 2003.

06 August 2024 If you are getting professional fees from any organization/s, you can claim this fraud as business loss.

06 August 2024 Sure sir. Iam salaried. Will I able to claim this as a loss under ITR 3.

06 August 2024 No. For salary income it is not possible to claim the loss.


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