Hi
I am a salaried individual and i have a form 16. I have made net loss in F&O and the turover is about 5 lakhs. Is it mandatory for me to show the F&O loss when I file return ? Is it ok if I just file the returns with form 16 ?. I understand that I can carry forward the loss if I file before july 31st. I think it is too late for that. I asked someone and he said it is mandatory to file returns if the turnover from any business is more than 50000 even if we make loss. Does it apply here ? Thanks in advance.
I am a salaried individual and i have a form 16. I have made net loss in F&O and the turover is about 5 lakhs. Is it mandatory for me to show the F&O loss when I file return ? Is it ok if I just file the returns with form 16 ?. I understand that I can carry forward the loss if I file before july 31st. I think it is too late for that. I asked someone and he said it is mandatory to file returns if the turnover from any business is more than 50000 even if we make loss. Does it apply here ? Thanks in advance.
