Comment on Tradetax for income tax returns when trading
commented on
23 Jul 2017, 09:31 PM
Hi, i am salaried and fall under 20% bracket. I traded only equity/cash segment. Following is my P&L statement
Equity:
INTRADAY GROSS PROFIT₹7,530.00
INTRADAY TURNOVER₹1,48,809.90
SHORT TERM GROSS PROFIT₹11,539.00
SHORT TERM TURNOVER₹1,90,084.50
LONG TERM GROSS PROFITN/A
LONG TERM TURNOVERN/A
TOTAL CHARGES ₹35,609.07
As I’ve total loss of 16,540 and also have taxable income, i need to audit if i want to carry forward the losses, right?
In case i do not want to carry forward the losses (to avoid audit), can i just file ITR-1?
What do you suggest is simplest way to fill ITR