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?