Returns for 2009-10

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2010 Dear Sir,

i am salaried employee, and having capital loss during the period 2009-10.

which form is submitted for IT Returns

Rahul Gupta

Rahul Gupta (Expert)
Follow

19 July 2010 Since you have capital loss, ITR-2 need to be filed.

ITR-2 to be used by an individual or an Hindu Undivided Family whose total income for the assessment year
2010-11 includes:-
(a) Income from Salary / Pension; or
(b) Income from House Property; or
(c) Income from Capital Gains; or
(d) Income from Other Sources (including Winning from Lottery and Income from Race Horses)..

Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2010 Dear Sir,

I had losses in Stock market (Cash & F&O),

can go with the ITR - 2 ?

Upgrade to CAclubindia Pro. Subscribe Now!

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

19 July 2010 Agree with Rahul Ji.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
Follow

19 July 2010 AS PER MY OPINION, YOU HAVE TO FILE ITR 4.

DEALING IN CASH & FUTURE OPTIONS IS SPECULATIVE BUSINESS TRANSACTIONS WHICH ARE SHOWN U/H BUSINESS & PROFESSION

Rahul Gupta

Rahul Gupta (Expert)
Follow

19 July 2010 Agreed with Mr. Bansal, in case you have multiple dealing of transactions on regular basis, then this will be termed as business income, and so ITR-IV need to be filed.