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PRADEEP K VERMA (BUSINESS)     21 September 2021


Dear Members

I booked profit in some shares and losses in some others. overall I am in loss.

Do I need to file income tax for gain profit in shares or counted overall profit.

Thanks In advance

 2 Replies

shiva sai

shiva sai (student)     21 September 2021

You have to file your ITR irrespective of profit or loss.

if you have loss you can carry forward the same to future years to set off against profits.

it's advisable to file ITR before due date to carry forward losses.
veerendar singh

veerendar singh (tax consultant)     21 September 2021

For computing total income the net result will be considered. since you are having net loss you might not be liable to file Return. if you have any other income then you have to check if total income exceeds 2.5 lacs or not

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