Nature of business in itr-3 - what to select ?

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 July 2018 In addition to salary and bank interest,
an individual has Speculative business income from intra-day share trading profit.

No other income from any other business or profession.

What will be the code and description of business, to be selected, in ITR-3 ?

What to select in the field '' NATURE OF BUSINESS/PROFESSION '' - in ITR-3?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

24 July 2018 Seems most appropriate is 'other financial intermediation services n.e.c -- 13018' for want of correct sector and sub sector classification in the instructions to the said form.

Querist : Anonymous

Querist : Anonymous (Querist)

24 July 2018 Thanks Sir,. For your reply.

And what do you think about following ? :

Sector - Wholesale and Retail Trade ,
Sub Sector - Retail Sale of other products n.e.c.
Code - 09028

????
Is this suitable ?

And what, if , we do mistake in choosing such perfect nature of business sector, sub sector and code ?

Is there any provision for penalty, for such mistake ?
Should We worry about such mistakes, which are not made knowingly ?

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