Person having only nominal Capital Gains just Rs.250/- arising from redemption of debentures by NTPC. Said debentures had been issued in 2015 and cost of acquisition is shown as Nil, perhaps it was given by NTPC towards some bonus or something, this is not clear. The person has no other transactions relating to shares/ mututal funds. Can such person file ITR 1 (all other criteria for ITR 1 satisfied; ie., individual resident taxpayer with income less than 50 lacs. However the person has brought forward capital losses from past years though current year (FY 2025) no transactions.
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Can a person use ITR 1 when she has CG of Rs.250/ and brought forward losses
Replies (4)
Quick Summary
Theoretically not taught, but practically accepted.
Whats thr nature of assesse?????
Didnt get it! I know we can use ITR 1 if we have CG upto 1.25 lacs; my query is whether we can use it when we have brought forward losses from past years. There is no provision in ITR 1 for this. So want to ensure that using ITR 1 in this one year does not wipe out the brought forward losses.
No guarantee on digital app.; as theroretically you are supposed to file ITR2 to get set off the current year gains against B/f. losses and carry forward balance losses.
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