Guidance sought on appropriate ITR for AY 2021-22

ITR Filing 320 views 3 replies

Hello, 

Please guide me on which ITR to file for AY 2021-22 (FY 2020-21) in the following scenario:

Status of the tax payer: Resident, Individual with income from salary, Business and profession(futures trading) 

FY17-18 

           ITR-3 was filed and books of accounts was prepared. Incurred  loss from business and STCG/LTCG losses. The same were carried forward. 

FY18-19

           ITR-3 was filed and books of accounts was prepared. Brought forward Loss from business and STCG/LTCG losses were carried forward. 

FY19-20

            Due to COVID 19 restrictions ITR-1 was filed.

FY 20-21

              Gross Total Income > 50Lakhs (from salary)

             STCG ~ 25K

             LTC Loss ~ 2K

             Loss from F&O trading ~ 12K

Query: 

a. What is the state of the carried forward losses since ITR 1 was filed in FY 2019-20? 

b. Which ITR needs to be filed in FY 2020-21? 

 

Regards,

Pawan

Replies (3)
Itr 2

A. Yes, it will be allowed for set off against PGBP income.

B. File ITR 3 for PGBP income declaration.

An individual earning income from salary at the same time earning income from business from profession , unless the former is a contractual terms earning income from salary.
Here the querist has not mentioned that.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details