Comment on Taxation Simplified

Hi Nithin

Thanks for the informative article and especially for your answers to all the queries. I would just like to have a clarification, though it may have already been posted. I am a salaried individual and occasionally do f&o trading, some of which intraday as well as positional. For the running fY year, I have incurred losses of around 20,000/-. My queries are as follows

1. As a primarily salaried individual, with interest from bank accounts being the only “other income” which ITR form would I use for showing my losses against f&o trading

2. Say, for e.g. interest component is 5000/- only. Does it mean that I can only offset 5000/- against loss in f&o trading, or can I account for the whole 20,000 loss

3. How can a loss shown in previous years be offset against gain in subsequent years when declaring the IT returns for the current year where a gain has been made

4. How Can I get a statement of transactions for the FY from Zerodha, where the cumulative profit/loss figures are available for the purpose of Income Tax declaration

5. If F&o is traded intra-day, is it termed as speculative

Thanks

Sanjib

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