Returns for 2009-10

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2010 Dear Sir,

i am salaried employee, and having capital loss during the period 2009-10.

which form is submitted for IT Returns

Rahul Gupta

Rahul Gupta (Expert)
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19 July 2010 Since you have capital loss, ITR-2 need to be filed.

ITR-2 to be used by an individual or an Hindu Undivided Family whose total income for the assessment year
2010-11 includes:-
(a) Income from Salary / Pension; or
(b) Income from House Property; or
(c) Income from Capital Gains; or
(d) Income from Other Sources (including Winning from Lottery and Income from Race Horses)..

Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2010 Dear Sir,

I had losses in Stock market (Cash & F&O),

can go with the ITR - 2 ?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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19 July 2010 Agree with Rahul Ji.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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19 July 2010 AS PER MY OPINION, YOU HAVE TO FILE ITR 4.

DEALING IN CASH & FUTURE OPTIONS IS SPECULATIVE BUSINESS TRANSACTIONS WHICH ARE SHOWN U/H BUSINESS & PROFESSION

Rahul Gupta

Rahul Gupta (Expert)
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19 July 2010 Agreed with Mr. Bansal, in case you have multiple dealing of transactions on regular basis, then this will be termed as business income, and so ITR-IV need to be filed.

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