My main income is from agriculture of up to Rs,45 lakhs. I have been doing delivery based trading in listed shares by taking a loan of Rs,80 lakhs. I have paid interest on the loan.
I want to carry forward the losses and show interest on loan as expenses.
Which documents are necessary to be uploaded while filing ITR, to claim the carry forward of losses in trading and the interest accrued on loans?
Please kindly inform in this regard.
Thank you & warm regards.
Hi @anilswipe,
You don’t need to upload any documents while filing your ITR. Simply enter the amounts to claim all trading-related expenses, including interest on loans, and carry forward your trading losses as allowed under the Income Tax Act.
Hope this helps!
Thank you @Diti_Savalia .
A delivery-based share trader primarily reports income under the head Capital Gains in the Income Tax Return (ITR), typically using ITR-2.
The necessary documents are Aadhaar and PAN Card, Form 26AS, Annual Information Statement (AIS) , and a Capital Gain/Tax P&L Statement from the brokerage. The latter details all purchase and sale transactions, segregated into Short-Term and Long-Term Capital Gains/Losses, crucial for accurate computation and reporting to the Income Tax Department. You may also need bank statements and investment proofs for deductions
For a delivery-based share trader, keep the broker’s capital gains statement or tax P&L, transaction details, contract notes, bank statements, AIS, Form 26AS, and TIS ready. PAN, Aadhaar, and bank account details are also required. These documents help accurately report share transactions and reconcile capital gains while filing the ITR.
For delivery-based share trading, it’s a good idea to keep your broker’s capital gains statement or tax P&L, transaction details, contract notes, bank statements, AIS, Form 26AS, and TIS ready. PAN, Aadhaar, and bank details may also be needed while filing. Having these documents together makes it easier to reconcile your transactions and report capital gains accurately.