I am salaried person with more than net 2.5 lakhs and attached is my tax p&liability, @TAXIQ.IN should i do tax audit?
Its better you don’t do the audit as cost will be more than future benefit to carry forward of Loss.
that’s what i want to know,bcoz some ppl were saying that even if individual is below taxable limit, on doing f&o filing itr is compulosry, doesnt matter loss or profit?
To carry forward losses you need to file, else it’s entirely your decision to file or leave it
I have the following situation for last financial year:
Short Term Capital Gain (Stocks): 10,000
Long Term Capital Gain (Stocks): -1500
Intraday (Stocks): -250 (this was a mistaken trade, only one trade in entire FY)
Salary: 0
Fixed Deposit Income: 6,000
Short Term Capital Gain (Mutual Funds Equity): 6,000
Mutual Fund (equity category) Monthly Income redemption: 36,000 (now long term redemption so I’m guessing any capital gains will not be taxed)
Considering the above and since my total income is less than 2.5 Lakhs, do I have to file income tax?