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INCOME TAX ON SHARE PROFIT OR LOSS

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BUSINESS
62 Points Posted on 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
Pradeep
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On 21 September 2021 at 15:28 Report
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student
76 Points Posted on 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.
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On 21 September 2021 at 17:13
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tax consultant
3306 Points Posted on 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
9 Reply
On 21 September 2021 at 22:02


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