29 July 2010
i am a salaried person and have done share trading in last financial year on both delievery basis (few) and lots of intraday trading , not in futures and options. i had incurred a loss of 1 lakh in last year.
NOW MY QUERIES ARE 1) WHICH ITR FORM TO FILL? 2 OR 4 2) WHERE TO SHOW STCL ? IF IT IS IN CG A 2 IT ASKS TOTAL VALUE OF CONSIDERATION & COST OF ACQUISTION SHOULD I FILL ZERO IN TOTAL VALUE OF CONSIDERATION AND LOSS FIGURE IN ACQUISTION COLUMN ASI AM DOING INTRADAY TRADING I AM NOT ACQUIRING?
29 July 2010
1. ITR - 4 2. IN CG 3) From other assets Full value of consideration total sales value of delivery trading Cost of acquisition : purchase value loss will come.
29 July 2010
IF YOU HAVE DEMAT A/C WITH ICICI THEN YOU CAN GET ALL DATA REGARDING COST OF ACQUISTION, COST OF SALES, SHORT TERM CG, LONG TERM CG , SPECUALTION INCOME/LOSS FROM CLICKING BY NEW FACILITY ADDED IN A/C
29 July 2010
and intra day trading is speculation loss.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
29 July 2010
1) does for even cash intraday trading is to be filed in itr 4
2) which schedules i should fill in itr 4 for salary income and speculation business losses, & what code is to be filled in nature of business
3) how to compute total loss figure
a) is it day to day net profit or loss b) whether i can include brokerage+ service tax+ STT as an expense or it will be included in loss
4) as it is a speculative business is it need to be audited if turnover exceeds 40 lakhs if yes how to calculate turnover a) each transaction profit or loss figure b) day to day profit or loss
29 July 2010
1) does for even cash intraday trading is to be filed in itr 4
2) which schedules i should fill in itr 4 for salary income and speculation business losses, & what code is to be filled in nature of business
3) how to compute total loss figure
a) is it day to day net profit or loss b) whether i can include brokerage+ service tax+ STT as an expense or it will be included in loss
4) as it is a speculative business is it need to be audited if turnover exceeds 40 lakhs if yes how to calculate turnover a) each transaction profit or loss figure b) day to day profit or loss
29 July 2010
2. Contd. code for business Trading - Others-0204 details of income No Account Case Schedule BP - Computation of income from business or profession Computation of income from speculative business
Querist :
Anonymous
Querist :
Anonymous
(Querist)
30 July 2010
thx guys few more queries
1) what i need to fill in no account case i.e. total sundry debtors,creditors, stock in trade, cash balance. 2) in gross reciepts, pprofits, expenses, is it necessary in my case. 3) in cg sheet full value of consideration means the value of selling the shares+ expenses on delivery basis. is it right?
4) even after all this i make a mistake in some calculations, but however no tax payable to me what r the penalties.