07 January 2014
Sir, My question is which ITR Form to use in the following two cases- 1) Professional income+capital gains+rent from res.flat+ profits from equity and derivatives trading
2)Professional income+capital gains+rent from res.flat+ loss from equity and derivatives trading
07 January 2014
In both cases, you have to file ITR -4 only.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
07 January 2014
Dear Sir, Some colleague told me that if one is trading in equity and derivatives he has to compulsorily file u/s 44AD and use ITRSugam in case of profit(equal to or greater than 8% of the trading turnover). In case One has loss to show one has to use ITR4 . Sir I am confused. Kindly clarify very soon. THANKS IN ADVANCE
07 January 2014
You have Professional Income + capital gain + rent income also in addition to Equity trading profit / loss. So you cant file ITR - 4S. You can read criteria of Eligibility & Non eligibility of ITR 4S.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
07 January 2014
Sir , Kindly clarify one more point. Suppose an individual otherwise fulfills all other eligibility criteria for using ITRS but as a share market trader has income from both speculative(day trader in equity and FNO) trading as well as non speculative(short term equity) trading then in this case can he use ITRS.