I have three sources of income/loss for FY 17-18 i.e. income from Salary, Interest and loss from Short Term equity trading. My loss is not considerable and here my query is that can I file ITR-1 by showing Salary and Interest income by ignoring loss from equity trading?
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Query regarding short term gain/loss from equity
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Hi,
It is suggested that the short term equity trading loss, how less or inconsiderable it is, should be reported in the Income Tax Return. Assuming the transactions have been done on through Recognised Stock Exchange and involves Bank transactions as well, then it should be reported in ITR. Also, this would help set off or carry forward the loss incurred in this year with incomes of next years.
So, it can be suggested on the basis of above information, that ITR 2 or ITR 3 must be filed to reflect the short term equity trading loss.
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