Income tax

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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

itr1 e-filing taxable-income income-tax
1 Answers

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.

Pankaj Batra5212

Thank you very much Pankaj for clarifying my doubts. Really appreciate your help for answering everyone's questions.

Thanks again.

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