21 July 2018
Hi All, a non-resident Indian wants to file ITR for AY 2018-19 to furnish income from let out property in India and loss from F&O trading under the head PBGP. Also, few deductions to be claimed under Chapter-VIA. Two queries: Which ITR form should be filed by the Non-Resident? Eligible to set-off loss against IFHP and claim deduction under Chapter-VIA? Please clarify.
21 July 2018
ITR 3 HAS TO BE FILED. HE IS ELIGIBLE TO CLAIM SET OFF OF F & O. LOSS AGAINS IFHP BUT 44AD WILL BE APPLICABLE AND NEEDS TO GET ACCOUNTS AUDITED. CNA CLAIM DEDUCTION UNDER CHEPT. VIA IF REST OF CONDITIONS ARE SATISFIED.
CAclubindia
