Hi,
If a salaried person with Dividend and Interest Income (Non Business ) who had Income / Loss from F&O trading in previous years (see below), but did not do any F&O trading this year, what form ITR form should be submitted in order to ensure that the net loss from previous years can still be carried forward.
AY 09-10 - F&O Loss of 3 Lakhs - ITR 4 submitted showing the loss within stipulated time
AY 10-11 - F&O Profit of 1 Lakhs - ITR 4 submitted showing the profit and deducting the same from previous years loss within stipulated time, carrying forward a net loss of 2 Lakhs to next year
(Q) Can I submit return under ITR1 or ITR2 as I have only salry, interest and dividend income only this year. If so, would I lose the chance to claim adjustment against carry forward loss of nearly 2 lakhs in coming years ? Is ITR 4 required again this year ?
Thanks, SP.
CAclubindia
