ITR for brokerages and commissions
This query is : Resolved
09 June 2025
Sir,
My income breakdown for FY 24-25,
Savings interest 44,000/,
STCG 2,10,000/
LTCG from equity mutual fund 91,000/
Income from commissions 3,780/0(TDS deducted u/s 194H)
Intraday equity cash(non f&o) trading loss 247/,
Intraday trading turnover 500/
So Total income exceeds 2,50,000/ and I've loss of 247/ in intraday trading.
Since I've commissions income of 3,780/, I've to file ITR 3 and I can't opt for presumptive taxation u/s 44AD.
My question:
Are books of accounts and audit compulsory and inevitable for me or there is any way out ?
Thanks a lot
My income breakdown for FY 24-25,
Savings interest 44,000/,
STCG 2,10,000/
LTCG from equity mutual fund 91,000/
Income from commissions 3,780/0(TDS deducted u/s 194H)
Intraday equity cash(non f&o) trading loss 247/,
Intraday trading turnover 500/
So Total income exceeds 2,50,000/ and I've loss of 247/ in intraday trading.
Since I've commissions income of 3,780/, I've to file ITR 3 and I can't opt for presumptive taxation u/s 44AD.
My question:
Are books of accounts and audit compulsory and inevitable for me or there is any way out ?
Thanks a lot
09 June 2025
not necessary to do the audit. depends on the turnover. but unless you are ready to offer the intra-day trading income under 44AD, books of accounts need to be maintained.
09 June 2025
Thanks Sir for your kind help and advice
09 June 2025
Sir,
Sorry to bother you again, can I opt for 44AD as I've commissions income and total income more than basic exemption limit ?
Thanks
Thanks
Sorry to bother you again, can I opt for 44AD as I've commissions income and total income more than basic exemption limit ?
Thanks
Thanks
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