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Itr to fill if capital gains are negative or very minimual (rs 100-200)

ITR Filing 291 views 3 replies

Hello,

I have a query regarding which type of ITR to file for a specific case. My wife did some trading last financial year for learning purposes, and ended up with quite a few small transactions of 1-2 shares each. Resulting capital gain is around Rs 200, and even that becomes negatives after adjusting for taxes and expenses such as brokerage, etc. She is a housewife and doesn't have any other income except for interest on savings and FDs, which also is lesser than taxable limit. We still want to file ITR to claim refund on TDS deducted by banks. Which ITR should we file - ITR 1 or ITR 2?

Thanks in advance.

Replies (3)
ITR 2 needs to be filed for capital gain + Interest income as mentioned by you
If TDS is deducted on sale consideration, then to claim refund (in case of loss) and to calim capital loss for next 8 years to adjust in the future capital gains which may arise in future. You need to file ITR within the due date
Originally posted by : Naveen V
If TDS is deducted on sale consideration, then to claim refund (in case of loss) and to calim capital loss for next 8 years to adjust in the future capital gains which may arise in future. You need to file ITR within the due date

What if I don't intend to carry forward losses? Is it okay if I just file ITR 1?


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