Hi Community. @Quicko
Will be thankful if someone helps me out
FY 21-22 ,INTRADAY LOSSES = 619, INTRADAY TURNOVER =2480
FY 22-23, INTRADAY LOSSES=4419, INTRADAY TURNOVER= 22137
FY 23-24,INTRADAY LOSSES =1115,INTRADAY TURNOVER =7114
All these are my intraday losses on equity segment fr last 3 years…NOW I AM DOING SWING TRADING AND MAKING MONEY IN MKT AS STCG BUT NOT MORE THAN 2.5 LAKHS( NO OTHER INCOME)…ALSO I have come to know about benefits of uploading losses to get TAX RELEIF IF IN FUTURE I MAKE MORE MONEY AND BECOME TAX LIABLE.
SO CAN ANYONE TELL ME, WILL I BE ABLE TO CARRY FORWARD LOSSES OF FY 21-22 & FY 22-23 , IF I FILE NILL ITR IN 23-24 YEAR ENDING ???
Hi @AV88
Losses from Intraday Trading come under Speculative Business Loss and can be carried for the next 4 years only if ITR is filed on time. You can set off speculative business losses against speculative income.
While the above rule is meant for those filing under the old tax regime, I’ve read somewhere that we cannot set off these losses if we opt for the new tax regime. @Quicko can you please confirm?