Switch from ITR3 to ITR2

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3 Points Posted on 04 January 2021
Can one switch to filing ITR2 if there are no FnO trades for the year? I have been filing ITR3 for the past 3 years as I had some FnO income.
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On 04 January 2021 at 09:17 Report
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Quick Summary
If you've been filing ITR3 due to previous F&O income but no longer have such trades, you can likely switch to filing ITR2. This is permissible even if you have carried forward losses from short-term or long-term capital gains, provided these losses are not related to F&O income.

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Chartered Accountant
24588 Points Posted on 04 January 2021
Yes you can file itr 2 by switching oy
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On 04 January 2021 at 09:42
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Tax consultant
5895 Points Posted on 04 January 2021
Is you have carried forward losses
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On 04 January 2021 at 11:54
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3 Points Posted on 04 January 2021

yes the carry forward losses from previous years are from STCG and LTCG and not FnO income.

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On 04 January 2021 at 12:05
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Tax consultant
5895 Points Posted on 04 January 2021
File itr 3
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On 04 January 2021 at 12:11
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524 Points Posted on 04 January 2021
Yes ITR 2 should be filled
1 Reply
On 04 January 2021 at 18:28
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Accountant
4533 Points Posted on 04 January 2021
Yes you can
1 Reply
On 04 January 2021 at 19:49

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