Which itr to use for f& o loss ?
This query is : Resolved
22 July 2015
Hello everyone,
one of my client has incurred Loss in F&O Rs.200000/-
He has other business in which he has taxable income of Rs.500000/-
My Question :
Can he file ITR 4S ?
one of my client has incurred Loss in F&O Rs.200000/-
He has other business in which he has taxable income of Rs.500000/-
My Question :
Can he file ITR 4S ?
22 July 2015
Need to file ITR4 to carry forward the loss. Also file return within due date.
Nikhil Kaushik
(Expert)
23 July 2015
depends on turnover...if the overall profit is equal to or more than 8% (for both businesses combined), you may file ITR4S also
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