S
Sonia Rodrigues
I have incurred a loss by trading in F&O (that is less than a year) and I run a business and wish to file under presumptive taxation 44ADA. When I was going through the ITR4 form on the income tax website I was unable to find any field that allows me to input these losses.
Please let me know where I can declare these losses. Can I consider these losses as Non Speculative and deduct it from my Business gains?
Facebook
Twitter
Linkedin
F&O is NON Speculative income and loss if any can be adjusted with any income other than SALARY.
in F&O your turnover would be total of (profit made + loss incurred+ premium in case of options).
if you bought 1 lot of 100 rupees sold for 105 than your turnover is 5 not 105.
adding to the above if you bought another lot of 100 and sold for 96 your loss is 4 rupees but your turnover adding this would be (5+4)=9 but profit would be (5-4)=1.
I hope it's easy for you now
A
Anurag Patni
Sir,I am working in canara bank, While filling ITR , it is showing 250 difference in tax paid section, I have tax saver FD of 25000 , i think thats the difference , but it is not showing in my form 16 and i dont know in which column i have to fill it in ITR 1, pls help
tax saver FD comes in Chapter VI A 80C where total maximum limit allowed is 1,50,000/-
T&C applyR
Rajeev Agarwal
Medical doctor those servise in BSF hospital and BSF hospital pay 4 month salary under sec 192 and balance 8 month thay pay amount under sec 194J
then he fill return under ITR3 ..??
if yes then please clear about his Nature of business code under ITR
also provide how to fill TDS detail in ITR 3 TDS sheet because 4 month this show under 192 and 8 month show 194J so all TDS details show in salary or in devide under two part and fill 17B and 17C1
four months would be under Income from Salary for which form 16 would have been provided.
remaining 8 months it would be profession income.
tds needs to be shown seperately.
A
Ashirvad Singh
Reired Army Officer. Disability pension + Service element is more than 10 lacks annually. How to get exemption while filing ITR 1? The amount is displaying in TDS1 and I left out columns in Taxable income. It is displaying an error saying " head salary is less than 90% of total taxable income"
In this case, you need to break the salary into 3 parts
I) Salary (excluding all allowances, perquisites and profit in lieu of salary)
II) Allowances not exempt
III) will be exempt Income in which you need to mention section wise exemption.
Total of all 3 cumulatively should match with Gross Salary as shown in Form 16 and you will not face the error.
Regards,
Chirag M. Haraniya
9930128085
T
Tarun Karnik
Pertains to AY=2018-19. I have a Self Occupied property. My Home Loan interest = 2,50,000/- Pre-construction period interest yearly instalment to be claimed = 45,000/-. How can I claim rebate on home loan beyond 2,00,000/-.
From F.Y.2017-18 it's a rule that you cannot claim more than 2,00,000/- any amount would be carried forward if any.
T&C apply
