Intraday Shares Trading ( Speculative )

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This discussion clarifies how to report speculative intraday share trading profits and losses within ITR-3 for individuals maintaining accounts. It explains that intraday trading turnover is equivalent to the absolute profit, and these gains/losses are treated as speculation gains/losses. The response guides taxpayers on the specific columns and schedules within ITR-3 to accurately declare these figures.

Patel

Patel (Querist)
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12 October 2021 How to show speculative Intraday Shares trading profit and Loss in ITR-3 of Account maintain case. Please specify particular column in ITR-3 as Account maintain case.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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13 October 2021 In case of Intraday Trading, the Turnover equals Absolute Profit. Absolute Profit is the sum of all positive and negative differences from all the transactions.
Profit from Intraday Trading will be considered as Speculation Gain & Loss from Intraday Trading will be considered as Speculation Loss.
Taxpayers have the option under Income tax to declare the trading profit as per Presumptive Business Income u/s 44AD or as a Normal Business provision.
For details refer: https://www.angelone.in/knowledge-center/income-tax/intraday-trading-tax-audit

Patel

Patel (Querist)
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13 October 2021 My question is simple i.e. where, how and which schedule put speculative Intraday Shares trading figure in ITR-3 of Account maintain case.

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