Business loss: File returns or not.

r kapoor (na) (24 Points)

30 June 2011  

Hi,

I had some business loss in last financial year while doing f&o trading.  The loss is quite less (say 5k) and i don't want to carry forward it as I don't have future plans to start f&o trading again.

i don't have any other source of income also. So whether i need to file income tax returns or not ?  

For last 2 yrs, i filled itr-4 for minor business profit and loss. I don't want to take too much pain in filling lengthy itr-4. Is it ok ?

If there is really any risk, then i will fill itr 4. but whether this risk is required or not?

Thanks,

Riya Kapoor.