Poonawalla fincorp
Poonawalla fincorp

USE OF ITR I

This query is : Resolved 
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Querist : Anonymous

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Querist : Anonymous (Querist)
10 July 2011 SIR,
I AM A SALARIED CLASS PERSON AND ALWAYS USE THE IRR I.
NOW I WANT TO CARRY MY SHORT TERM LOSS IN SHARES. ON FILLING THE ITR-1 SAHAJ, I FOUND THAT THE TAX WAS CALCULATED LESS FROM ACTUAL TAX PAID BY MY EMPLOYER FROM MY SALARY ON PUTTING THE SHORT TERM LOSS IN PROPRIATE COLUMN. WHAT SHOULD I DO ?
I AM FILING E-RETURN BY MYSELF. SINCE THE CACLUBINDIA EXPERT WAS TOLD ME THAT THE ABOVE RETURN COULD BE USED AND SHORT TERM LOSS WOULD BE CARRIED FOR 8 YEARS.

WHAT WILL BE CORRECT TAX AMOUNT? PLS ADVISE.
THANKING YOU
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U S Sharma

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U S Sharma (Expert)
10 July 2011 use ITR 2, as ITR 1 can not be used for capital gain / capital loss

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