Intraday share trading itr2 or 3

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Quick Summary

If you've engaged in daily intraday share trading, even for a short period, and are a salaried individual, you'll need to determine the correct Income Tax Return (ITR) form. While ITR 4 is often recommended for business income, you can opt for ITR 3 if you don't want to declare under Section 44AD. ITR 2 is generally not advised for speculative income, as it may lead to queries from the Income Tax Department.

ghosh

ghosh (Querist)

29 December 2021 a person did share trading daily for few days(5-10), during lockdown . he is salaried person.
which itr to file and under which column?

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

29 December 2021 If earned profits in intraday trading, file ITR 4.

ghosh

ghosh (Querist)

29 December 2021 itr 4 or 3 ? why not itr 2 other income-speculative

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

29 December 2021 If you do not wish to declare business income under sec. 44AD, then file ITR 3.
ITR 2 is not suggested now a days, as the speculative income may have been reported under AIS, while PGBP income cannot be declared in ITR2. Still if you like you may declare it in ITR2, under IFOS, but chance of query being raised by ITD cannot be denied.

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