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ITR form for intraday trading gain

Ashok (Not applicable) (86 Points)

18 June 2010

I have salary income and intra day trading gain

Is Intrady trading gain treated as Short Term Capital Gain (STCG) or business income ?

Which ITR form should be used for this return ?

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6 Replies

CA Manoj Tilokani (JOB) (163 Points)
Replied 18 June 2010

SEE BROTHER PROFIT/LOSS FROM INTRADAY TRADING IS CONSIDERED AS SPECULATIVE PROFIT/LOSS.

SO EVEN SALARIED EMPLOYEE ARE ALSO REQUIRED TO FILE ITR-4.

Ashok (Not applicable) (86 Points)
Replied 18 June 2010

Cann't this be shown in ITR-2 as income from other sources

OR STCG other than 111 exempt ?

CA Manoj Tilokani (JOB) (163 Points)
Replied 18 June 2010

AS PER MY KNOWLEDGE IF SOME ONE TRADES WITHOUT DELIVARY IS CALLED SPECULATION AND SO IT WILL BE COMPULSORY TO FILE ITR-4

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sk_1122 (NA) (134 Points)
Replied 28 July 2011

Ok. I was also not aware of this. So, if someone has Salary income, Intraday Loss/Gain and Short Term Loss/Gain which form should be used? There is no section for Short Term Loss/Gain in ITR4?

Sam Smith (2 Points)
Replied 07 February 2022

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CA Inderjeet Sunda (Chartered Accountant) (355 Points)
Replied 09 February 2022

Intraday Trading Gain Should be Shown as Business Income ( Higher of Actual Gain or 6% of Turnover here turnover will Aggregate of Gain/loss ignoring negative sign).