Income tax

Hi pankaj

I have filled the ITR1 excel sheet and mentioned the taxable income,and payable tax. I have invested around 2lacs in shares and the market value as of today is 1 lakh in the current year.

do i need to fill ITR1 and ITR2 or only ITR1 or only ITR2.

Please guide me in filling up the tax returns online.

Thanks Mahesh

asked Jul 14 '11 at 05:28 by taxfiling 1222


Unrealized loss/gains cannot be shown in income tax return. So you cannot claim any benefit of notional loss due to value of yours stocks.

You can file ITR1 if you only have income from Salary and bank interests. You can file income tax return online yourself.

answered Jul 14 '11 at 15:02 by pankaj 5.2k320

link
Thank you very much Pankaj for clarifying my doubts. Really appreciate your help for answering everyone's questions. Thanks again.
(Jul 15 '11 at 05:16) taxfiling

Know someone who can answer? Share a link to this question via email, twitter , or facebook
.

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text](http://url.com/ "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported

Tags:

×777
×38
×12
×6

Asked: Jul 14 '11 at 05:28

Seen: 1,017 times

Last updated: Jul 15 '11 at 05:16