ITR Return Applicable fy 2019-20

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This query concerns the applicable Income Tax Return (ITR) for the financial year 2019-20 for an individual with salary income below ₹3,50,000 and share trading activities. The individual experienced speculative losses, short-term capital gains, and long-term capital gains. The advice given is to file ITR 3, but only fill in the relevant schedules like Salary, Capital Gains, and trading-related sections, rather than all mandatory sections if they don't apply.

Sanjay

Sanjay (Querist)
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15 September 2020 Sir,

Please solve my below query:
1. My friend salary earning from pvt job during the financial year 2019-20 is below Rs. 3,50,000
2. He also doing trading activity i.e Share buying and selling through his own demat account. during the financial year 2019-20 his profit & loss statement showing Rs. -428.12 loss for speculation, Rs. 7652.33 profit for Short term & Rs. 95.45 profit for long term.

Kindly suggest us which ITR return applicable for financial year 2019-20

Thanks & Regards.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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15 September 2020 File ITR 3...............

Message likes : 1 times

Sanjay

Sanjay (Querist)
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17 September 2020 Sir , If ITR 3 applicable then all schedule fill is mandatory or not ? i. e in ITR 3 their is column Nature of Business, BS, Manufacturing, Trading , Profit & Loss , Quantitative etc. which is not related to us because we just salary income & doing share trading activity .
Or we just fill up the column related to us i.e Salary Schedule S, Capital gain, etc.

Please solve my above query.

Thanks & Regards.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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17 September 2020 You just fill up the column related to you i.e Salary Schedule S, Capital gain, etc.
Select no account case and business share trading for speculative income.

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