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E-filing - for those with income from bank interests only

Harsha (Software professional) (214 Points)

22 June 2014

Dear Experts,

For FY 13-14, I was unemploeyed. My only income was the interest earned from bank accounts. But I have traded in stocks and have some losses to carry forward! I am an individual and not a partner in any firm and do not hold any proprietorship.

So I believe I need to file my return with ITR 2. As per the e-filing website it is "For Individuals & HUFs not having Income from Business or Profession". For many years, when I was drawing salary and having income from bank interests and gains from stocks, I have been using ITR 2.

Please confirm.

Regards,

Harsha Vardhana R

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5 Replies

Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 22 June 2014

yes, you need to file itr-2. and file it before due date so that you can carry forward your losses for set off in next year.

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pavan kumar (CA Final , CMA Final) (202 Points)
Replied 23 June 2014

Traded in stocks

If non delivery based and not intra day then the loss on the same shall be treated as Loss from non speculative business .. Need to file ITR 4

If intra day trading then the loss on the same shall be Loss from speculative business .. Need to file ITR 4

If it is delivery based then ITR 2 has to be filed

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