ITR file for sharemarket gain/loss

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Deal Subedar
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1204
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ITR file for sharemarket gain/loss

Hi,

Last year i started equity swing trading and ended up with 50k short term loss.

Current year my shortterm gain is 100k.

I am a salaried employee and want to submit my ITR for last year.

Query
1. Which ITR should i submit.
2. If i want to rollover/adjust loss for next year does CA audit required.

You can find my pl in below url picture and suggest me accordingly.

https://freeimage.host/i/...57

7 Comments  |  
6 Dimers
Missing
Deal Subedar
7
2028
44

i think u can carry forward ur losses till 8 yrs , but u have to pay ur taxes first !!

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Deal Subedar
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theruler007 wrote:

i think u can carry forward ur losses till 8 yrs , but u have to pay ur taxes first !!

Yes i can carrydorward but my query is which ITR should i select or does it require ca audit.

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Deal Cadet
172
835
7
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titamazon wrote:

Yes i can carrydorward but my query is which ITR should i select or does it require ca audit.

some rule is there luke…if profit is less than 8% of turnover then audit required….

Missing
Deal Cadet
101
119
0

Ca audit not required but u will have to show it as capital gain and not as buisness income. If you were into intraday trading then u dont have option but show it as business income. And as far as setting off of previous loss is concerned it has to be from the same head i.e. capital loss

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Deal Newbie
50
44
0

I think u need to file itr2. Even to roll over the loss, the loss needs to be mentioned in itr2 while filing. You have option there.

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