Comment on Business Line: Read Section 44AD when filing return

AbsoluteBeginner commented on 01 Aug 2013, 06:00 AM

I have a regular full time job and the company I work for deducts TDS. I have done some trading in F&O (turnover > 1 crore) and incurred losses.
I have filed ITR2 and have declared the losses under section CFL to be offset in future years hopefully. I haven’t bothered to get the trading statements audited by a CA.
Is this wrong? Was I incorrect in assuming I have an option to use ITR2 as a salaried individual who dabbles in F&O?

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