sir,
if Speculation & F& o not regulare Trading but 1 or 2 Settalemt can Balance Sheet Submisson Compulsary & above income is speculation or capital gain
6 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177826 Points)
Replied 31 July 2018
Not capital gain, but can be declared under head 'IFOS'... so, no need for BS & P&L acc
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177826 Points)
Replied 31 July 2018
IFOS....... means Income From Other Sources.......
ITR1 or ITR2 depending upon applicability...
MAYUR
(PROP)
(97 Points)
Replied 31 July 2018
BUT IF SUPPOSE TRADE LOSS OTHER SOURCE NOT CAPATURE (CAN SETT OFF OUTER SORCE INCOME ] INTEREST & OTHER INCOME ??
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177826 Points)
Replied 31 July 2018
Yes, Its only if you had any positive gain.......
For loss you are required to file ITR3 with BS & P%L acc, provided you wish to carry forward the loss. Or else you may not claim any loss & file ITR2.
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