Speculative loss
This query is : Resolved
21 July 2017
I am salaried employee. i have been to investing in shares from last November. In initial months i have traded for few days i.e; intraday and got net loss of Rs 167 with a trading value of Rs 10000. From February i haven't traded again and but have few shares for investment sake. I have no intention to trade as intraday further and set off that loss which is a minimum one. Can i file ITR 2 instead of ITR 4? Since i filed only ITR 1 last A Y where i have no income except salary.
21 July 2017
ITR 4 has been discontinued now. To disclose gain/ loss from intra-day trading, you will have to file ITR 3. Irrespective of whether you want to carry forward the loss to subsequent years, you should disclose these transactions. In my view, filing ITR 1 is not an ideal thing to do in your case.
21 July 2017
ITR3 is for business. here i am not doing any business at all and that to for limited time. i have some STCG.
ITR3 is asking for nature of business. what should i fill? can't i file ITR2 only, leaving that loss?
ITR3 is asking for nature of business. what should i fill? can't i file ITR2 only, leaving that loss?
28 July 2017
Intrday trading is considered as a speculation business. Filing the ITR without reporting that would be furnishing of inaccurate particulars.
13 October 2021
File ITR 3 under code 13010 – Financial intermediation/Investment activities.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
