Loss of share trading in itr

ITR 255 views 7 replies
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Finance Executive
73 Points Joined December 2018

DEAR EXPERTS,

GREETINGS FOR THE DAY..!!!

I HAVE A QUERY REGARDING ITR FILLING OF HUF WHICH HAVE ONLY INCOME FROM SHARE MARKETING. SHARE TRADING STARTED FROM FEB-2019 AND MOSTLY TRANSACTIONS WERE INTERADAY, AS ON 31.03.2019 THERE IS LOSS AROUND MORE THAN RS. 3,00,000/-. NOW PLEASE GUIDE ME ON BELOW POINTS - 

1. IS THERE ANY REQUIREMENT OF AUDIT IF I AM SHOWING LOSS UNDER SPECULATION BUSINESS ?

2. OR CAN I SHOW THE SAME UNDER CAPITAL GAINS & LOSSES??

 LOOKING FORWARD FOR YOUR VALUABLE REPLIES.

THANKS IN ADVANCE.

AMIT KUMAR

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On 29 July 2019 at 15:36 Report
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SEO Sai Gr. Hosp.
197001 Points Joined July 2016

Any other income from other heads of income?

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On 29 July 2019 at 16:20
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Finance Executive
73 Points Joined December 2018

No any other Income Sir, Only from Share transaction.

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On 29 July 2019 at 16:42
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SEO Sai Gr. Hosp.
197001 Points Joined July 2016

No Tax audit in that case.

File ITR 3 with intraday transactions under PGBP..

Loss can be carried forward up to next 4 years.

No, it cannot be assessed under capital gain/loss

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On 29 July 2019 at 16:59
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Finance Executive
73 Points Joined December 2018

Thank you sir

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On 29 July 2019 at 17:12
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17264 Points Joined December 2018
Intra-day is speculative activity and delivery is share trading business. File ITR 3 and show accordingly
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On 29 July 2019 at 22:30
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Finance Executive
73 Points Joined December 2018

Sir, There is also Delivery of shares. Kindly let me know how to show that transactions. is in capital gain or business income?

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On 31 July 2019 at 13:15
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SEO Sai Gr. Hosp.
197001 Points Joined July 2016

Prima facie, u/h Capital gains

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On 01 August 2019 at 10:23


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