I am doing trading/investing from last two year for which details as below:-
F.Y. 2018-19 Intraday loss Rs. 3450 Short term loss Rs. 650 Option loss Rs. 11700 Intraday/Options Turnover Rs. 2,87,000 Broking & other charges. Rs. 4500
F.Y. 2019-20 Intraday loss Rs. 1660 Short term loss Rs. 2200 Option loss Rs. 25200 Future loss Rs. 15000 Intraday/Options Turnover Rs. 4,82,000 Broking & other charges. Rs. 18500
So please suggest me that 1. Which ITR should be file ??
2. Whether it is require to maintain books of account and audited it ??
3. Can ITR 4 will be filled by declaring 6% of turn over inspite of having loss.
14 October 2020
1 File ITR 3 inview of speculative intra day trading. 2 Tax audit not applicable in view of income below basic exemption. 3 Not possible in view of speculative business. No need to file ITR in view of non taxable income.
CAclubindia
