ITR related question

[Heer_Singh_Rao]

Do I have to file ITR-2 if my annual capital gains profit (all intraday) is in NEGATIVE and income from all sources is less than 2.5 lakh?

[mohitmehra]

Do I need to File ITR

The Short Answer: It’s ok to not file your ITR if your income is below the exemption limit. More Details Here: You may choose to not file your ITR if your income is below Rs. 2,50,000/-. However, if you want to carry forward any intraday or FnO losses (for 4 years and 8 years respectively) to set-off against future gains then you will be required to file your ITR. Even if you don’t have any losses to carry forward, the suggested best practice would be to file your ITR every year for record k…