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Undeclared Net realised Loss

ITR 343 views 5 replies

Hi Forum,

I have had 

 

Replies (5)

Whether the loss was due to any transfer of shares?

If yes, then it is not possible to carry forward now.

I did not transfer it to anybody. I did trade the shares and incurred the loss. I bought and sold yes bank shares multiple times and caused the loss of 5L overall for that year. 

But why you didn't declare it in relevant ITR if you wanted to adjust it with other income?

Alas, now it is not possible, unless any notice from ITD.

Back then I did not know sir that we need to declare losses as well. Having said that, it was my lack of knowledge on tax terms. I was hoping now that I can somehow show my past losses and carry it forward. Thank you for your help.

You are welcome....

& Good Luck ...            


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