What is the head of income and appropriate itr form
This query is : Resolved
24 March 2013
Sir,
My younger brother is a SBI employee. He has also Share trading loss in the FY 2011-12 in which year he has earned salary of Rs. 3,45,781/-. Income Tax Authority has issued him a letter to submit Income Tax Return as he has Income / transaction other that Salary. Now the question is :
1. What would be the head of income for the Share Trading Loss.
2. What is the appropriate ITR Form for him.
My younger brother is a SBI employee. He has also Share trading loss in the FY 2011-12 in which year he has earned salary of Rs. 3,45,781/-. Income Tax Authority has issued him a letter to submit Income Tax Return as he has Income / transaction other that Salary. Now the question is :
1. What would be the head of income for the Share Trading Loss.
2. What is the appropriate ITR Form for him.
24 March 2013
Dear Partha Dey,
1)Under Head Of Income " Income from Capital Gain ". AS SHORT/LONG TERM CAPITAL LOSS.
2) ITR - 2 ( AS YOUR BROTHER IS A SALARIED EMPLOYEE WITH LONG/SHORT TERM CAPITAL LOSS).
But, Partha , short/long term capital loss cannot be set off against salary, so ,be careful.
Thanking You,
PALASH RAKSHIT.
1)Under Head Of Income " Income from Capital Gain ". AS SHORT/LONG TERM CAPITAL LOSS.
2) ITR - 2 ( AS YOUR BROTHER IS A SALARIED EMPLOYEE WITH LONG/SHORT TERM CAPITAL LOSS).
But, Partha , short/long term capital loss cannot be set off against salary, so ,be careful.
Thanking You,
PALASH RAKSHIT.
Message likes :
1 times
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Plot of land. Cost of Acquisition
- Taxation on LTCG for property sold after 24JUL2024
- REGARDING GST LIABILITY/....
- Last year TDS Claim
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
