is it a short term loss OR short term profit?

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  1. anantch31

    anantch31 New Member

    I bought equity shares in 2012 december for 10 lakhs. sold them in May 2013 for 9 lakhs. I did not file IT return for both the years. If I file my return now, do I have to show 9 lakhs sale proceeds of may 2013 as profit for 2013? or how to show this entry? Thank you very much.
     
  2. anantch31

    anantch31 New Member

    I found the answer. A friend told me, I cannot carry farword Loss of non-filing previous years, but I can carry farword Stocks as Opening balance, and told me to show 10 lakhs stocks of Op. Bal and 9 lakhs as sales figure and difference of 1 lakhs as loss.

    Thank you.
     
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