ITR for Salary Income and Losses in F&O

Which form should be filed if someone has "Salary Income" and also "Losses in Futures&Options trading, less than 1 crore turnover". Thanks in advance.

asked Jul 25 '15 at 18:51 by Sej2411 16359

Thanks Pankaj for response; one more clarification: as there is loss in F&O, do I need to show them in returns, if I have no plan to set-off them in coming years? or Is it mandatory to show then and get audited (as per sec:44AB) by CA? And, if possible, can you please suggest a good CA, in Hyderabad to do audit and file returns?
(Jul 26 '15 at 22:58) Sej2411
Its better to show losses also, as in coming years, you never know about set off. We don't have much idea about CAs in Hyderabad. We are based out of Gurgaon and can connect to some local CAs here.
(Jul 27 '15 at 00:41) Pankaj Batra

You should file using ITR-4

answered Jul 26 '15 at 08:55 by Pankaj Batra 5.2k320


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]( "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



Asked: Jul 25 '15 at 18:51

Seen: 2,344 times

Last updated: Jul 27 '15 at 00:41