During 20-21 incurred speculation loss of Rs. 2 lacs what kind of ITR to be filed forAY 21-22. please advice.
Replies (9)
Quick Summary
This discussion addresses which Income Tax Return (ITR) form to file when an individual has incurred a speculation loss. The consensus is that ITR-3 is the appropriate form, even if the individual also has income from salary. It clarifies that speculative trading income should be reported under the 'Profits and Gains from Business or Profession' (PGBP) head, specifically within the speculative income schedule, rather than under 'Other Sources'.
Mr. Sourav why are you giving wrong answer, Speculating trading is shown under PGBP head in speculative Income schedule, if you don't the answer then don't reply. Your wrong answer affects to querist.