Urgent

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 March 2015 I have to file IT Return for F.Y. 2013-14.

Kindly tell me i have did Share Trading & I have received Short Term Loss & Long Term Gain. what I need to do in my accounts ??

Its Urgent

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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20 March 2015 u need to file itr4 and need to file it before 31.3.2015 as belated return u/s 139(4) and penalty pf rs 5000 u/s 271F ,ay be imposed for late filling by ito

Querist : Anonymous

Querist : Anonymous (Querist)

20 March 2015 thanks sir for reply

but i need to know about my shares. plz tell me what to do ??

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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20 March 2015 if u are tradaing every day like intraday trading then shares icnome or loss will be computed as income from business and show it under itr4

Querist : Anonymous

Querist : Anonymous (Querist)

20 March 2015 no i am not doing every day. I have received annual profit & loss statement in which there are items like (op. assets) which is - 73508.50 then (assets) which is also -114461.32, (liabilities) +101221.10 now there is short term whch is -507.41 and then long term which is +1826 last is expense which is -767.37 total profit/loss is in negative -86197.50

i want to take that in my accounts
how do i take it by entry ??

thanks sir for your early and helpful reply

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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20 March 2015 U NEED TO calculate all sales - purchases= profit as ur income from trading of shares

Querist : Anonymous

Querist : Anonymous (Querist)

20 March 2015 what about loss if available what to if short term gain and if long term gain ?

do i carry forward short term loss ?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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20 March 2015 if u had purchased shares and sold within 1 year then it will be short term gain or loss as the case may be and it can be carry forwarded but and can be setoff next year also

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