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Need help in filling returns - options trading

muthu (f.associate) (39 Points)

25 April 2012

Hi all, Looking some details in derivative trading in india for futures and options i suffered Rs.44800 loss in options trading and i wish to carry forward it so please let me know the procedure to carry forward that loss... and i saw related topic forums here and many suggested to file online return of ITR-4 and i downloaded ITR-4 and there many sheets there ... please help me to file ITR4 and I am salaried person which income is below 5 lac per annum not having any other income like income from hp or income from interest or fd so please help me in filling return of itr4 -- what are all the sheets i need to fill or can i go with itr2 itself??

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3 Replies

muthu (f.associate) (39 Points)
Replied 26 April 2012

Waiting for valuable reply

please help guys

Aparna Raja K.C (Student) (520 Points)
Replied 26 April 2012

To carry forward the losses (incurred in 2011-12) you have to file the return before 31st july 2012.

and to do tht u just need to put in your losses under Income from Capital Gain in negative (-)

classify the loss into long term and short term

for tat.. consider the purchase date and sale date..if the period of holding is more than 1 year.. then loss or gain ( remember you have to provide all your transaction details not just that of your loss transactions) is Long term Capital Gain (in your case Long term Capital Loss) else shortterm Capital Loss

Swarup Dutta (Assistant Auditor) (42 Points)
Replied 27 April 2012

Dear Muthu, you do not need to submit your return in ITR-4. As you are a salaried employee you can submit your return in ITR-1 (Sahaj) which is very easy to fill. You can download the form income tax departmental site. Log on to www.incometaxindia.gov.in after that go through the following link ..... 1)click on next button 2)Download 3)Income tax return 4) click on english version of SAHAJ link.