Income Tax filing-ITR

Madam / Sir,

I have F&O losses for AY2023-24 and I am a pensioner.

Which ITR should I file. I do not want to opt for presumptive taxation.

When I am filling ITR-3, it is saying that i should first fill sec 10 IE.

When I go to Sec 10 IE under business there is no F&O option.

When I choose others, options shown does not pertain to me as a pensioner.

Please let me know how to proceed

Thanx for your help

 

 

 

Replies (4)
Quick Summary
A pensioner with F&O losses is seeking guidance on which Income Tax Return (ITR) form to file for AY2023-24, as they do not wish to opt for presumptive taxation or carry forward losses. They are encountering issues with ITR-3 and Form 10IE, finding the options unclear, particularly regarding F&O trading and their pensioner status. The user is looking for definitive advice on filing correctly, especially when conflicting suggestions from CAs add to the confusion.

Form 10IE is for option to opt for new tax regime.

If you are filing under old tax regime, no need to file Form 10IE.

File ITR 3 if you wish to carry forward F&O loss, otherwise you can file ITR 1

Sir,

I do not want to carry forward F&O Loss.

Last year I had already filed returns under new regime.

Is it ok to file ITR-1.

As many CA suggested i should file ITR-3 and losses should be shown in returns.

Please suggest.

Thanx

Hi, I'll be happy to help you. We should discuss your case in person. Please check your inbox for details.

There is so much confusion in filing ITR's in india and nobody is sure what is to be done.

I raised a query and nobody is able to answer properly or correctly.  Should we assume that our professionals are not good enough to understand the law or is it so much  confusing.

1. I am a individual and pensioner  2.  Last year opted for new regime

3. I am a F&O trader and this year I have net loss(profit -loss=Loss)

4. Which ITR should i file

5.  I do not want to carry forward loss for future years as I do not have any business

6  Some CA's told me to file ITR-3.  When i try to file ITR-3, it says i should first fill 10IE.

When I try to fill 10 IE, it asks for line of business, there is no option for F&O or individual.

which option should be chosen

It is so much confusing and I am not able to get answers.  I hope somebody in the group has

answers for my questions and help me out.

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