Change of return of income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 August 2012 Assessee has filed ITR 3 in time for AY 12-13. It is discovered that he has some business loss from share trading.
1.Can he file ITR 4 .
2. can he set off the loss of business against interest received from firm on his capital as partner?

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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31 August 2012 He Can Revised Return, Also Can Set Off The Loss of Share, Provided The Share Loss From F&O, Shown as Business. Not as Investment Otherwise to be Treated as Capital Loss.