Should I file an ITR if I've taxable income from Short Term Capital Gains which is my ONLY source of income and it is very much below the basic exemption limit. Till now I never had any taxable income and so I never filed an ITR. And should I file an ITR If I have Short Term Capital Loss?? If I should file an ITR when I've STCL & if I don't file and ITR, what are the consequences I've to face??
1 Replies
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 12 March 2014
Dear Ravi if your income is way below the slab then no need to file itr. But if you are having loss from stcg then the benifit of such loss shall only be allowed if you file your income tax return before due date.
I hope ans is clear
regards
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