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Long/short term capital loss in shares

ninadra (Others) (91 Points)

09 August 2019

Can government employee show short/long term capital loss from share market due to equities at ITR ?

If yes then can same be shown at ITR-1 online itself ?

Kindly let me know , thanking you.

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14 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 09 August 2019

1. Yes

2. No. File ITR 2.

1 Like

Siddharth Parmar (ipcc student) (61 Points)
Replied 09 August 2019

You have to file iTR 2

1 Like

ninadra (Others) (91 Points)
Replied 10 August 2019

Thanks for reply...can one file ITR 2 onli e like ITR 1 or have to file it through excel file and upload?

ninadra (Others) (91 Points)
Replied 10 August 2019

Thanks for reply...can one file ITR 2 onli e like ITR 1 or have to file it through excel file and upload? Read more at: https://www.caclubindia.com/forum/long-short-term-capital-loss-in-shares-524081.asp#reply

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 10 August 2019

Not possible to file online.

ITR2 is to be prepared offline, and upload its X M L file after login.

1 Like

ninadra (Others) (91 Points)
Replied 10 August 2019

Thanks...one last question can one carry on capital loss ( due to investment in equity mkt) incurred during this financial year to next financial year so that it would be adjusted again any capital gain ( incase) ...?

1 Like

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 10 August 2019

Yes, definitely; but file return before 31.08.2019, with loss declaration.

1 Like

ninadra (Others) (91 Points)
Replied 20 August 2019

Suppose if I have shown long short term capital loss 9 lacs and Income from sal 8 lacs TDS, Advance tax, income tax paid 78k..Now after putting all figures in itr 2 and carry forward losses 9 lacs..it is showing at amount refundable section 78k (entire tds and tax paid).. if the losses are being carried forward why it is showing tax paid sal and other as refundable... Thanks..

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 21 August 2019

Validate the sheets individually,

Or there must be some fields not properly filled. Get it checked from an expert.

1 Like

ninadra (Others) (91 Points)
Replied 22 August 2019

Many thanks for valuable guidance...after validating each sheet and calculation of tax it is showing everything properly...

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 22 August 2019

Well, I hope query resolved......... If not....

What are the figures in 'Schedule CFL', Column 4 & 5 ... Rows xi & xii ???

ninadra (Others) (91 Points)
Replied 23 August 2019

At CFL column 4 and 5 rows xi and xii both showing short term capital loss and long term capital loss respectively..i.e 3.4 lacs and 5.4 lacs respectively...