Trading income-ITR

This query is : Resolved

Saurabh Srivastava (Querist)
Follow

02 October 2021 i am a salaried individual having additional income from intraday share trading , F&O and positional share trade....which ITR should i file,,,

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

03 October 2021 File ITR 3 intraday trading and F&O will be considered as business income.

Message likes : 1 times

Saurabh Srivastava

Saurabh Srivastava (Querist)
Follow

03 October 2021 I am a salaried individual so can i file for business income which ITR 3 would be requiring

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

03 October 2021 The intraday trading & F&O trading are considered as business income, so ITR 3 need to be filed. A salaried person can file ITR 3 if he has traded in the share transactions.

Saurabh Srivastava

Saurabh Srivastava (Querist)
Follow

03 October 2021 Can't I show capital gain /loss in ITR 2

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

03 October 2021 No. For capital gains, shares are required to be transacted on delivery basis.

Saurabh Srivastava

Saurabh Srivastava (Querist)
Follow

03 October 2021 in ITR 3 balance sheet/ PL Account has to be created which has to be audited.....so how can a salaried person show that he is running business too

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

03 October 2021 If your profit margin from trading is more than 6% (for turnover upto 2 Crs.), then there is no requirement of tax audit.

Message likes : 1 times

Saurabh Srivastava

Saurabh Srivastava (Querist)
Follow

03 October 2021 my problem is that i am salaried,,,working for a reputed organization....how can i show business income in my ITR

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

03 October 2021 Such business income is allowed for salaried persons, no problem. Your employer will not raise any issue.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Trading income-ITR

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA