E-filing - for those with income from bank interests only

Efiling 750 views 5 replies
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Software professional
214 Points Joined May 2011

Dear Experts,

 

For FY 13-14, I was unemploeyed. My only income was the interest earned from bank accounts. But I have traded in stocks and have some losses to carry forward! I am an individual and not a partner in any firm and do not hold any proprietorship.

 

So I believe I need to file my return with ITR 2. As per the e-filing website it is "For Individuals & HUFs not having Income from Business or Profession". For many years, when I was drawing salary and having income from bank interests and gains from stocks, I have been using ITR 2.

 

Please confirm.

 

Regards,

Harsha Vardhana R

 

 

 

 

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On 22 June 2014 at 23:03 Report
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Student as well as Self-employed
3710 Points Joined September 2007
yes, you need to file itr-2. and file it before due date so that you can carry forward your losses for set off in next year.
1 Reply
On 22 June 2014 at 23:43
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CA Final CMA Final
202 Points Joined November 2007

Traded in stocks

If non delivery based and not intra day then the loss on the same shall be treated as Loss from non speculative business .. Need to file ITR 4

If intra day trading then the loss on the same shall be Loss from speculative business .. Need to file ITR 4

If it is delivery based then ITR 2 has to be filed

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On 23 June 2014 at 06:26
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Software professional
214 Points Joined May 2011

All my stock trading is delivery based and so I would go with ITR-2

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On 23 June 2014 at 12:11
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Student as well as Self-employed
3710 Points Joined September 2007
yes you can file itr 2.
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On 23 June 2014 at 12:51
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Wealth Manager
5293 Points Joined December 2008

Agreed with Mr. Singh. File ITR-2 before due date.

1 Reply
On 23 June 2014 at 13:55

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