SHORT TERM LOSS ON SALE OF SHARES AND LOSS IN FNO
This query is : Resolved
04 August 2020
Dear Sir,
I have incurred short term loss of Rs 70000/= appx on buying and selling of shares and further incurred loss of Rs 25000/= appx on trading in FUTURES AND OPTIONS .
Can I show my short term capital loss of Rs70000/= and loss in FNO in FORM 2 for IT return for AY2020-21.
Since FORM 4 is applicable if FNO loss is > 1 cr.What to do with FNO LOSS ,please clarify
Thanks and regards,
P.J.RAO
I have incurred short term loss of Rs 70000/= appx on buying and selling of shares and further incurred loss of Rs 25000/= appx on trading in FUTURES AND OPTIONS .
Can I show my short term capital loss of Rs70000/= and loss in FNO in FORM 2 for IT return for AY2020-21.
Since FORM 4 is applicable if FNO loss is > 1 cr.What to do with FNO LOSS ,please clarify
Thanks and regards,
P.J.RAO
04 August 2020
* Form ITR-2 cannot be used since F & O result comes under 'business loss'.
* Form ITR-3 may be used wherein share trading loss may be reported under 'STCG' and F & O result may be reported under PGBP'.
* Form ITR-3 may be used wherein share trading loss may be reported under 'STCG' and F & O result may be reported under PGBP'.
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