Comment on Tax loss harvesting

Nithin Kamath commented on 25 Mar 2015, 11:07 AM

Chandu, if you are trading only equity segment, you can file your returns using ITR 2 and there is no Section 44AD applicable (8% thing). But yes, if you are trading very actively like a business you need to use ITR4 or ITR4S.

IF you are filing using ITR4/ITR4S, then it makes sense to reduce your profits only to the extent where you are making 8% of your turnover as profits. Because like you said correctly, below this audit would be required.

Form C that you give to the company is separate, you have to file your ITR separately.

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