ITR for Salary with Capital Loss in F&O


#1

Hi,

I am a full time IT professional salaried and doing part time trading in F&O and intraday. I have some capital loss of 6 Lakh and my turnover is 30 Lakh, Please help me out whether which IT return form i have to fill (1,2,3,4) or any auditing requires in my case.

Thanks
Vikas G.


#2

You need to choose ITR 3 for Correct filing.


#3

@TAXIQ.IN I had a similar situation like the OP for FY 16 17 and i filed the return through HNRBlock and they have filed ITR2.Will there be any problem or did they make any mistake? And the return is still in process by IT dept .I have recieved a notice earlier from them although it is because the Form 26 details didnt match with income declared in Form 16 (nearly 216 rs mismatch).

FYI… I am a salaried person with transactions in FNO,intraday trading,short term trading and investments in MF.


#4

While filing It returns , Its duty of the person to share and explain. Post this only it should be filed as its consolidation of your whole year transactions.

In the ITR 2 option of filling F N O profits are not there. Either they have not filled completely or incorrect heads been filled.

Now all the Notices are generated computerized where there is comparison of financial information gathered online and It returns. when you get Notice you can revise and file correct one to avoid penalties.


#5

Hi @TAXIQ.IN

just an update on my situation,

IT has accepted my revised return even though it is filed as ITR 2 and refund also done.