Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
What is the IT return form to be used?
I have transactions under the following headings:
1. Derevatives - MCX and F&O
2. Capital Gains/Loss (Share Transactions) - Long Term, Short Term, Speculation(Day Trading)
3. Income by way of Dividends, Interests on Bank Deposits, Mutual Funds, etc.
The total amount is less than the Tax Audit limit.
Please let me know the IT Return form to be used in this case and the last date for filing the return.
5 Answers
- VeekayLv 41 decade agoFavorite Answer
Since you have speculation income and day trading income, you would fall in the definition of business and hence you need to file ITR 4
- 1 decade ago
Better appoint a tax consultant.
Invariably you need to use form ITR 4.
Please note that derivatives dealings are treated as business dealings. TAX GURU (CNBC channel) says audit is needed as the transaction value easily crosses the limit of 40 lakhs in derivatives (future option transactions) and commodities.
- subasuLv 61 decade ago
ITR 2 is the form for you.
Last date is 31st July, 2007 in India.
Hurry! If you have losses to carry forward, 31st July is absolutely the deadline. If not filed by 31st July, losses will not be allowed to be carried forward.
Please seek TRPs help or a qualified CA if you have difficulties in filling the form.
Get going, NOW!
- How do you think about the answers? You can sign in to vote the answer.
