Comment on Taxation Simplified

sanjay gupta commented on 19 Mar 2015, 06:45 PM

Hi Nithin

I am a salaried person and I also dabble in short & long term stock trade and also intra day trading . I had also made STCG and LTCG from MF SIP investments which i had redeemed this FY2014-15

My income is as below for FY 2014-15 —

1) Gross Salary Income before PF Deductions – 1,98,000
2) Short term MF CG – 9,950
3) Long term MF CG(absolute) – 45,000 (Indexed CG-31000)
( should one take absolute or indexed CG for filing or calculation)

4) Loss from intraday trading – 2,70,000

My Questions are –

a) Which ITR form is applicable to me?
b) Pls advise under which heads i should mention each of above income or loss in ITR form
c) If i fill my return online which documents i have to submit along with ITR ?
d) Will I get a notice from IT dept for incurring such loss which is more than my salaried income but i have used my redeemed money from MF SIP which i had invested over years and also taken personal loan (not advisable though sic. 🙁

Thanks in advance . Hope you do reply

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