I believe many members would be busy filling their ITR this time. Also believe some have incurred losses or NIL profit in FYI 2022-23. Suppose if we have minor loss of 2k then can we skip filling ITR2/ITR3 and go ahead with ITR4(if have professional/business income) or ITR1 ?
ITR3 has so many schedules that I quit Intra trades. FY 2022-23 I had a loss of 1300 approx.(STCG+LTCG) due to aggressive tax loss harvesting in March 23 . Not willing to carry forward losses. Last year I had filled ITR3 with STCG gain as well Intra gain.
Any input from members from financial accounting will be welcome.
I filed my return on 5 june , claim 18000 TDS refund under ITR3 , that has not been processed yet. Does anyone guess when process will complete and refunded ?
ना कीसीसे दुश्मनी, ना कीसीसे होड..!!
मेरी अपनी मंजिले, मेरी अपनी दौड....!!!!
377.4. CB🤗| Link| Bookmark|
July 24, 2023 2:47:33 AM
IPO Mentor (1400+ Posts, 400+ Likes)
@Rajatkol Thanks for the inputs. I noticed my loss is greater if I remove Birlasoft buyback profit which is not taxable So finally opting for ITR3 with Carry forward loss. I had capital gain in first 3 qtrs and in last qtr I offset those gain by booking loss. If I had even 100 capital gain then it is a very difficult situation when filling the STCG qtr wise as it does not allow negative values. I was not asked to fill qtrly breakdown of stcg as it is negative. @Vidyarthi:where you found that ITR1 can be filled for capital gain or loss? As far I know either ITR2 or ITR3 to be filled for capital gain or loss.
The ITR forms are so complex now, I had to find a professional. It's also difficult to determine which tax regime is more beneficial for my profile. Not advisable to do it yourself unless you've only salary income.
File the itr...if you dont want to get the notice bhai.
I also have a question:
I transfered few shares from my 1 demat to other using cdsl easiest and then sold it. Do i need to show both the transactions - transfering as well as selling. Or showing only selling (with original buy price of 1st demat and final sell price of 2nd demat) is enough?
While the brokers were opening record demat accounts, they completely ignored my request for HUF account. My criteria was simple: A) Discount broker B) Should be in top ten, to remain safe I chose 5paisa.com. Their rates are comparable, and execution is fast. They used to provide margin for delivery also, but now stopped due to SEBI. One problem: If I search for previous transactions, the are unable to let me do so. Their interface is cumbersome in this regard, and has bugs. I have raised the issue with them, but after months of lapse, they still did't solve it. I suspect their intention now. Since, I am long term investor, my transactions are low, and I keep track of them, it is tolerable to me, but I keep vigil.
if u want to open in ANGEL ONE OR SHAREKHAN OR MASTER TRUST then contact with me ...
372.3. BullBull| Link| Bookmark|
July 24, 2023 11:20:48 AM
Top Contributor (400+ Posts, 100+ Likes)
All of them will have offline process. You have to fill the form and send them to their address if discount broker. In my case, it was Zerodha 3 years back. And i'd say I experienced quite a smooth process and constant follow up by the team there. Within a week, we got the demat of dad's HUF.
My personal experience with zerodha is very good wrt HUF account. The process is offline but they guide you properly beforehand. First soft copy is sent to their mail ID if they give you go ahead then send hard copy. Very smooth & all services available.
I think you need to obtain HUF PAN card abinitio. After obtaining PAN card one can even save more tax also apart from opening DMAT. But, there are many cons / obligations in general one should be aware of before going for HUF PAN. DMAT is one aspect that you can apply for one more application.
367. MAMU| Link| Bookmark|
July 23, 2023 8:00:15 AM
IPO Guru (2000+ Posts, 1200+ Likes)
380
No major movement After infy results all technology stock rally took a pause for last two days. 5-7% erase their specific gain. Hope it will list as GMP nad maintain gain for long-term story.
It seems attrition of IT industries are stabilizing. From 28 /30% attrition, it has come down to 16 to 18% . It may take 2 to 3 quarters for IT companies to show good growth in their bottom line.
So netweb's gmp may not fall drastically, it will give decent return in 6 months to 1 year time..