Share market and mutual fund activity


This query is : Resolved 

Quick Summary
If your share market and mutual fund transactions appear on your AIS form but not your 26AS, you must still declare them when filing your Income Tax Return. While you might prefer to only show construction income, omitting these declared transactions can lead to a tax notice from the department. Even small profits need to be reported, and you should use ITR-3 to declare capital gains from these activities.

28 June 2022 i am want file return FY-2021-22 my income sources main in the construction line but sometimes have activity in share market and mutual fund. but in 26AS not showing any transaction of share market and mutual fund activity but showing in AIS form. i want not show any transaction of share market and mutual fund i am want show only my construction line income, my query is can i file ITR4 to show only construction line income ?

28 June 2022 You may add capital gains..Use ITR-3

28 June 2022 You need to show share and mutual fund transactions as same is available in AIS

29 June 2022 if i am not show department can sending me notice ?

30 June 2022 Definately you will get notice.

30 June 2022 but in share market only i get 3000 profit in the year , also i have to show ?

07 July 2022 An alternative, declare it under IFOS.

08 January 2023 Amount of Gain does not matter. You ave to show the capital gains since it has been reported in AIS


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