Comment on Zerodha Email- Taxation

Nithin Kamath commented on 08 Feb 2013, 12:34 PM


If I got your question right, you had together put Rs 1.1lk in to your trading account and you withdrew 80k . So you had a net loss of Rs 30000.

What is important is when was this loss made, if it is between April 2012 to mar 2013, then you can file this loss along with the return that you will file for this year and you will get the benefit that you can set this 30k loss against other income of yours(other than salary). Even if you don’t have such an income, you can carry forward this loss and net it off against such gains you make during the course of the next 8 years. I am assuming here that your trading in markets was active trading( F&o and short term), if you are trading was intraday equity, you can net off this loss only against any intraday gain you make in the next 4 years..

If you have been trading actively this year use the ITR4 and if you are not actively trading this year use ITR1 or ITR 2(ITR2 if you have rental income also)..

Hope this helps..

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