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ITR form for salary and F&O trading

06 July 2019

Hi Experts,

1)I have salary income of 4.5 Lac and F&O/equity loss of 3 lac in last year..which form should I fill for ITR
2)should I get it audited from CA

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5 Replies

Bhargav (Business) (106 Points)
Replied 06 July 2019

no.
file itr3

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Aanand Jadhav (o) (410 Points)
Replied 07 July 2019

what if I didn't show f &o loss?

CA. Umesh kumar (ca.umesh11@gmail.com) (1465 Points)
Replied 10 July 2019

If you do not show this loss in itr you can not carry forward this loss for subsequent assesment year for set off from income from future and option of future years

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Aanand Jadhav (o) (410 Points)
Replied 11 July 2019

if I dont want to carry my losses then it will Create any issue on scn

J S BHAVSAR (CONSULTING) (1288 Points)
Replied 20 July 2019

Originally posted by : Aanand Jadhav
	if I dont want to carry my losses then it will Create any issue on scn

The option will reside with the assessing officer whether the department wants to know reason why taxpayer has booked losses but not wished to declare those in ITR and reasons for not declaring losses.