banner_ad

Can a person use ITR 1 when she has CG of Rs.250/ and brought forward losses

Efiling 1205 views 4 replies

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. 

Replies (4)

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.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details