Speculative losses

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2011 I made little speculative loss in Intra day trading.

In few trasactions I gained and in few transactions I lost spread over 2 months.

Over all I am in a loss. I do not want to carry forward these loses as they are minimal and do not want to file ITR-4 for the same. Is it appropriate if I file only ITR-2? I have income from salary and short term capital gains.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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01 August 2011 No way out you have to show the speculation loss and to be carried forward as no section provided you to take any benefit to adjust the speculation losses. Speculation losses can be adjusted only against the speculation profit.

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