Comment on Classifying Your Market Activity

Chirag commented on 09 Oct 2016, 04:02 AM

Hi Sir,

I am salary employ and do trading in commodity segment. In FY15-16 salary income was 5 lakh but loss in Trading 2.5 lakh
Now my query is given below

1. should i need to show loss in ITR even do not want carry or take benefit from future income from same head.
2. what will happen if not show loss in ITR and IT AO can take any action regarding this. I have read mutiple post but anywhere not mention what happen if not shown loss in ITR.
3. if it is must to show in ITR, can i fill ITR 4 and declare profit more than 8% to avoid audit treatment

Please guide me on quey.

View the full comment thread »