Which itr form to use for a.y. 2012 - 2013

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Kapil Tiwari (Querist)
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25 July 2012 I have the following income during the financial year April 2011 - March 2012:

1. Income from Salary
2. Income from other sources ( Bank Inerest)
3. Long Term Capital Loss on Sale of Equity Shares & Units of Equity Mutual Fund Schemes on which Security Transaction Tax has been paid. ( The Loss is about Rs 6000/-.)
4. Tax Exempt Interest of about Rs 1,50,000/- on Public Provident Fund (PPF)

Please advise which ITR Form should i use to file my return.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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25 July 2012 ITR-4 is proper and suitable.

OM SAI SRI SAI JAI JAI SAI

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Kapil Tiwari

Kapil Tiwari (Querist)
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25 July 2012 Sir, can I not use ITR-1(Sahaj) since the Long Term Capital Loss cannot be set off or carried forward and PPF interest is exempt from tax? Kindly advise.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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25 July 2012 Even though exempted income or non-carry forward loss you should be indicate in the return form in ITR-1(Sahaj) there is no option to Exempted income schedule and no schedule for Capital gains. so ITR-1(Sahaj) not proper.

OM SAI SRI SAI JAI JAI SAI

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SANYAM ARORA

SANYAM ARORA (Expert)
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25 July 2012 ITR - 2 will be applicable for you.

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Kapil Tiwari

Kapil Tiwari (Querist)
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25 July 2012 Sirs, Will I have to mention (-)6,000/- in the column for "Long-term capital gains from transaction on which Security Transaction Tax is paid"? This column is in Schedule EI (Details of Exempt Income) in ITR-2. Can I put a negative amount in this column?

Is there any other column also in ITR-2 where this "non-carry forward" long term loss is to be mentioned?

Kapil Tiwari

Kapil Tiwari (Querist)
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25 July 2012 Request your kind clarification, Sirs.

Kapil Tiwari

Kapil Tiwari (Querist)
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25 July 2012 Kindly reply, Sirs.