Filing of return using compu tax software
This query is : Resolved
23 July 2013
Last year I received a gift of Rs. 50,000 from my uncle and I started trading in Commodity with my uncle. We further transferred some funds and now we have a loss of approximately Rs.1,10,084. I have a interest income of about Rs. 8000. I want to file my income tax return using compu tax. kindly guide me.
14 August 2013
1. The gift is exempt in your hands. Show the same under exempt income.
2. Trading in commodity is a business income. Show the loss under the head Income from Business or Profession.
3. Interest income is taxable under the head Income from Other Sources.
2. Trading in commodity is a business income. Show the loss under the head Income from Business or Profession.
3. Interest income is taxable under the head Income from Other Sources.
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