WHICH ITR FORM WTH STCG AND FOREIGN SOURCE INCOME

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Quick Summary
This discussion clarifies which Income Tax Return (ITR) form to use when you have both Short-Term Capital Gains (STCG) and income from a foreign private company. The advice suggests filing ITR-3 if you intend to continue providing these services in the future, treating the foreign income as business income. Alternatively, if you don't plan to continue, ITR-2 can be used, declaring the foreign income under the 'Income from Other Sources' (IFOS) section.

26 July 2023 Hi sir, sir,
I have income from a foreign private company ( migration company ),
instead of any employment contract or payslip, they just only ask me to issue invoices every month, so it is not salary income but business income.
In F.Y. 2022-2023, my total income from a foreign company is less than 250000 ( no tax or anything deducted ), also I have gain through STCG.
which ITR form I need to file and where to show my foreign income while filling it ?

26 July 2023 ALSO I am not professional, but commerce graduate

26 July 2023 What is the nature of service provided by you?

26 July 2023 administration and consultancies services

please note, i am also ca final student.

26 July 2023 If you wish to continue the services in future, file ITR3 as business income. Otherwise, file ITR 2 and declare the income under IFOS.

26 July 2023 thankyou so much sir

26 July 2023 You are welcome.


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