my early income from salary is 8 lacs and i am also doing share trading and having loss 2.5 lacs in a year.
I am confused which ITR I have to file and how much tax I have to pay can I show my losses in income tax return.
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Income tax
Replies (4)
ITR-2 can be filed.
Your employer must have deducted TDS while making salary payment.
Since you have share trading losses, you can claim excess TDS above your tax liability as refund
Your employer must have deducted TDS while making salary payment.
Since you have share trading losses, you can claim excess TDS above your tax liability as refund
ITR 3 is suitable for the above said query.
How can share trading income be shown in ITR 2?
If shown as other income then how loss can be carried forwarded?
in ITR-2 he can disclose it under capital gains, provided he treats the same as investment because he is salary earning person.
However if he wishes to show it as a business income, then he can file ITR-3
However if he wishes to show it as a business income, then he can file ITR-3
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