Itr 3 for ay 2017-18

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ARVIND JAIN (Querist)
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23 July 2017 I have 9500 as f&o Income & 192500 as speculative income. STT paid on speculative income is 13772. T/O comes to 315347 for positive and negative figures of f&o and speculative trades. Got other house property,capital short term gains and interest income. Can I show above Income u/s 44AD in ITR 3 .Do I need to file Balance sheet and Profit & loss a/c?I have shown Gross Receipts 315437 Gross profit 215436 Expences 13772 Profit u/s 44AD 187892.please reply.Thanks

Nikhil Kaushik

Nikhil Kaushik (Expert)
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23 July 2017 yes. you can...however make sure that the turnover is correctly computed specially i you have traded in options.

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