Tax on salary along with income/loss from shares
This query is : Resolved
09 April 2012
I have income from Salary. Subsequently I also have Short term Profit and loss from F&O.
Please clarify on the following:
1) Which ITR Form have to be filled by me.
2) Can short term loss in equity (cash) can be offset against income from salary and whether refund can be claimed on the TDS deducted.
3) Can loss from F&O (Futures and options) in equity can be offset against income from salary.
4) In case loss from F&O (Futures and options) in equity cannot be offset against income from salary then can it be offset against short term profit.
5) Profit/loss from F&O will be treated as short term profit/loss or speculative profit/loss.
6) Request please let me know about how to do the accounting for the above in order to file returns.
Thanking You.
Please clarify on the following:
1) Which ITR Form have to be filled by me.
2) Can short term loss in equity (cash) can be offset against income from salary and whether refund can be claimed on the TDS deducted.
3) Can loss from F&O (Futures and options) in equity can be offset against income from salary.
4) In case loss from F&O (Futures and options) in equity cannot be offset against income from salary then can it be offset against short term profit.
5) Profit/loss from F&O will be treated as short term profit/loss or speculative profit/loss.
6) Request please let me know about how to do the accounting for the above in order to file returns.
Thanking You.
Aditya Maheshwari
(Expert)
09 April 2012
1 - ITR 4
2. No
3. No
4. Yes
5. Non speculative business income
2. No
3. No
4. Yes
5. Non speculative business income
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