Itr 4 for speculative equity trading ?

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Rahul (Querist)
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25 July 2019 Kindly advice me on the following...
1. Salary income is Rs. 3,00,000 for FY 18-19
2. Intra day net result is Rs. 15,000(loss) but total turnover is Rs. 9,00,000/- (total turnover here refers to sell value and not sum of profit & loss in absolute terms)

My query is can i file Itr 4 on presumptive basis in this case by taking 8% of Rs. 9,00,000/- i.e, 72000 as income from speculation business and Rs. 300,000 salary income...

Kindly suggest whether to use itr 4 or not...Or should i use ITR 3 as I'm ready to show more than 8% of share trading turnover.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 July 2019 Yes, you can i file Itr 4 on presumptive basis in this case by taking 8% of Rs. 9,00,000/- i.e, 72000 as income from speculation business and Rs. 300,000 salary income...

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Rahul

Rahul (Querist)
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25 July 2019 Thank You Sir. But what would be the business code. Is it 13010 ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 July 2019 Yes use it................

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