Can minimal speculative income (<500) be filed under ITR2

I tried to explore Intraday trading last year and made a small profit of less than Rs 500. I regularly file my ITR using ITR 2. Can I use ITR2 this year also, and in which case, where can i include my speculative income from intraday trading. If not, is ITR3 mandatory ? I would then need to redo all work and have never filed ITR3 earlier :(.

Replies (4)
Quick Summary
This discussion addresses whether minimal speculative income from intraday trading (under £500) can be declared using ITR2. While some advise using Schedule OI in ITR2, the consensus leans towards ITR3 being mandatory as intraday trading is classified as speculative business income, regardless of the amount. Filing ITR3 allows for proper reporting of this income and offers the benefit of carrying forward speculative losses for future set-off, provided the return is filed by the deadline.

Yes, filr ITR 2 & declare the income under Schedule OI..... under Tab 'Other'

Thanks. This seems most reasonable. I got similar advise from another source also.

As you are not regular trader, such declaration is accepted in general.

Intraday equity trading is classified as speculative business income under Section 43(5). The key point is the NATURE of income, not the amount.

ITR-2 is only for individuals with no income from business or profession. Since intraday trading is treated as speculative business income, even Rs 500 of intraday profit disqualifies you from ITR-2. The amount does not matter.

You need ITR-3 to report:
- Salary, capital gains, other income in the same return
- Intraday income separately under speculative business in Schedule BP, Part B

One benefit: if you have a speculative loss, ITR-3 lets you carry it forward for 4 years and set it off only against future speculative gains. But this carry-forward right exists only if you file ITR-3 on or before July 31, 2026.

For a breakdown of the key ITR form changes and income reporting rules for AY 2026-27, this [income tax rules 2026 guide](https://taxgarden.in/blog/income-tax-rules-2026-key-changes-india) covers the new schedule requirements for trading income.

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