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Short term capital gain/loss - equity sale

babugr (dgm) (509 Points)

17 June 2016

I filed ITR2 in AY14-15 as there was a long term capital gain and similarly for AY15-16 filed ITR2 as there was a small gain on STCG. For AY15-16 there is a loss on equity sale. Please clarify, is it necessary to file ITR2 if I ignore and proceed with ITR1 as my source of income is pension + bank interest only. I don't want to declare the STCG loss and carry it for future.

thanks

GR Babu

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4 Replies

Sumit (Tax Practitioner) (55 Points)
Replied 17 June 2016

You can adjust your STCL in A.Y.2015-16 against your STCG which u have earned in A.Y.2015-16.Anyway if u don't want to carry forward your STCL.Then you can do so.

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Vijay Lodha (Owner) (36 Points)
Replied 17 June 2016

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