Comment on Taxation Simplified

guptablr commented on 08 Jul 2013, 05:48 PM

Hi,

As many people mentioned earlier, I too have (in my wife’s name) 3 broking accounts opened and having traded in equity(intraday & delivery), f&o, few stocks/ETFs holding more than a year…so in this scienario how do we declare ourself as trader, speculator or business P/L in ITR-4. please clarify.

In the past also I have made major loss in my trading in F&O but never declared and never filed IT returns in her name. what is your suggestion?

Do I need to consult CA even if I had made losses in F&O(net) and it is total less than 1cr?
by the way what and documents do I need to carry or keep it with me for filing this ITR. please clarify.

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