Sir,
Which ITR form shall I use for efiling of income from salary and losses made in share trading to get return from tax deducted at source.
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Itr form for losses in share trading
Replies (5)
if you are treating the losses as Capital loss, yoou can file itr 1 and if you are treating it as speculative loss it ll become loss from business and profession and you ll have to file itr iv.
if i take it as capital loss, then shall i mention it under "income from other sources" head in ITR1?
thanks in advance
loss is not an income. All you need to do is c/f the loss to next year and set off against the capital gain of next year (if any), there are certain provision reg the same you can refer sec 70 and 71.
I am a salaried person. to be specific, while filing ITR for financial yr 2011-12, can i mention losses from shares under income from other sources in ITR1? I use ICICI direct for trading, they issue a profit and loss statement for each financial yr. i can send it as proof.
can I set off short term capital loss against my salary for the purpose of tax calculation?
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