Hi
I am an NRI and I have some profit and loss from trading in futures and options? WHich form should I use to file my ITR, ITR2 or ITR4 and how can i show my net loss from trading? I have some short term trading profit for stocks as well plus some technical consulting income from India.
ANy help and advice will be appreciated.
regards
Prashant
ITR4 seems appropriate and safe in your case.
For taxation, you can either chose to be taxed at normal rates or at rates prescribed under Chapter XIIA. But whatever you chose now has to be consistently followed. So kindly decide from a long term perspective.
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