First ITR - Need Help - ST Capital Loss + Other queries

Hello friends

Back on this forum after a long time and I have recieved very good info and help in the past from caclub :)

I am going to file my first IT return this year and I have decided to do it myself just for learning purpose. ITR 2 is appropriate for me as per my understanding. MY sources of income are:

1) Salary
2) Bank Interest
3) Capital Gain/Loss (Stock Market)

The list of queries/doubts starts here :) (pardon if some of my queries sound very silly)

1) I have made some Short term capital losses in the last yr. how to carry forward the loss to next yr? Which section in ITR2 needs to be filled for this. Plz be specific

Forget last year losses. To carry forward losses, you must have to file ITR on or before due date...

2) Are intraday gains/losses treated same as short term capital gains/losses for taxation or there is some difference? Plz clarify

Yes, shall be treated short term Capital Gain/Loss because the period of holding is not more than 12 months...

3) I have started a 5 yr tax saving fd last yr and I want to show the interest on accrual basis. Do I need to declare anywhere that I am showing income from interest on accrual basis? if yes, where?

No... You just have to fill Income from Other Source by such amount of Interest....

4) My trading and demat a/c are with kotak securities. The consolidated profit & loss statement provided by kotak sec for the whole FY doesnt takes into account some brokerages (stt .. etc). What components does cost of acquisition and cost of improvement contain? I guess I will have to take each contract note of the entire yr individually to calculate these. Also, there is a demat charge of21 on each delivery sell trade. Can I add these to cose of acquisition/improvement? Plz explain these things in detail w.r.t. to ITR2

STT does not form part of COA. However, it is considerable for the purpose of Sec 111A, If on sale, you had paid STT, then STCG will be taxed @ 15% otherwise, normal slabs will be applied... Further, D-Mate Charges doesnt fulfill meaning of transfer expenses. so the same also can't claim as reduction from sale consideration. Because, you are not paying Brokerage for sale but for holding securities.. 

In short, you can't calim benefit of any of such expenses....

5) I have availed medical allowance from employer which is tax free (upto 15000). where to show this amount in the ITR2 form? under which section does this exemption falls?

You don't need to mentioned allowances saperatly unless saperate column is provided.. Yous just have to fill Salary Income net

6) Last date for filing return if I want to carry forward losses in 31st july. right? else its 31st march 2012. am i correct? But, when is the last date to pay outstanding tax? I am about300 tax to pay.

Yes, to carry forward losses under any head of income (except House Property Loss) you have to file Return on or before due date (which is 31st July for Individual not having tax audit). And in case of House property loss, you can file return of income upto end of assessment year.

Further, in case, your tax is payable, the same must has to be paid before filling return and particulars of payment is to be filled in return as Self Assessment Tax paid...

7) How to pay the tax online?

visit below link...

https://onlineservices.tin.nsdl.com/etaxnew/PopServlet?rKey=1111958542

8) I want to submit the ITR online too. Is there some risk? is 31st july last date for online submission or for the ITR-V to reach bangalore? Plz give some tips about online filing and the process.

You just need to create your profile on https://incometaxindiaefiling.gov.in/ using your PAN as user name and password whatever you feel good...

Then download appropriate ITR Form from download column and fill it..

After filling all cells, you have to generate xml file and then upload it on above site...

31st July is due date for filling ITR. Thereafter, within 30 days you have to sent acknowledgment to Bangalore...

9) can online ITR copies be used as proof while applying for bank loans? or is it better to submit itr offline?

As far I know, yes, Banks demand for ITRs of last 3 Years...

Plz help me. Thanks