Thanks again. Since there are complications involved in tax audit / ITR-4 filing which I think am not ready for now and I have only booked losses through F&O trading, I am deciding to file only ITR-1 and show only salary income. I think this should be okay since I have incurred only losses in F&O trading and okay with not carrying them forward. I know this would mean loss to me in case of future income from F&O or other capital gains. Please let me know if it is acceptable in terms of IT rules to still file ITR-1 and avoid showing F&O trading losses.
Thanks,
Nitin
Thanks,
Nitin
please refer to my post no 29,
as per IT rules no its not acceptable, but in the end to take risk or not purely depends on you my friend.
regards,
CA. Ritesh Bafna