I got to know that the loss in OPTIONS trade (I brought lots worth 3000rs and lost everything) has to be shown as Business Loss and not Short Term Capital Loss. Hence, ITR4 has to be generated I guess. But, I don’t know how to enter this transaction under Business Loss and under what head. As there are lots of categories under that, can you please guide me how to enter this loss there.
What implications would be there if STT is not paid? I just gave the instructions to my broker to buy the ‘options’ contract. The contract note says all other taxes and charges are paid, and STT=0.
Does this transaction not require STT to be paid?