RE: Profit or Loss from shares in Income tax
This query is : Resolved
12 December 2010
Hi,
I had a loss of 3 lacs in shares for both 2008-09 & 2009-10 financial years.I did not mention anything regarding loss in shares while filing the Returns for both the years. Do i have a chance to do anything now??
Thanks in Advance,
Venu
I had a loss of 3 lacs in shares for both 2008-09 & 2009-10 financial years.I did not mention anything regarding loss in shares while filing the Returns for both the years. Do i have a chance to do anything now??
Thanks in Advance,
Venu
13 December 2010
You can file revise return for the year 2009-10. In this return you may claim the loss from CG.
sivasankar
(Expert)
13 December 2010
Sir,
You cannot file a revised for the year 09-10 return provided if you have filed the return before july 31st.Else you cannot do nothing.But get ready with your explanation regarding the source for the 3 lacs loss you have incurred.
You cannot file a revised for the year 09-10 return provided if you have filed the return before july 31st.Else you cannot do nothing.But get ready with your explanation regarding the source for the 3 lacs loss you have incurred.
Preeti Agarwal
(Expert)
13 December 2010
agree with sivasankar. You can revise and take advantage of c/f of loss of rs. 3 lacs for f.y. 09-10 only if you have file the return within due date as mentioned u/s 139
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