Trading income-ITR
This query is : Resolved
Quick Summary
Saurabh Srivastava
(Querist)
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
(Expert)
03 October 2021
File ITR 3 intraday trading and F&O will be considered as business income.
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Saurabh Srivastava
(Querist)
03 October 2021
I am a salaried individual so can i file for business income which ITR 3 would be requiring
Dhirajlal Rambhia
(Expert)
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
(Querist)
03 October 2021
Can't I show capital gain /loss in ITR 2
Dhirajlal Rambhia
(Expert)
03 October 2021
No. For capital gains, shares are required to be transacted on delivery basis.
Saurabh Srivastava
(Querist)
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
(Expert)
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.
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Saurabh Srivastava
(Querist)
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
(Expert)
03 October 2021
Such business income is allowed for salaried persons, no problem. Your employer will not raise any issue.
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