Sir,
please provide your valuable advise I am salary person I don't have any business income. i have some Capital Gain from stocks and mutual fund. I don't done f&o and no intraday only delivery basic Transcation. but I did one single Transcation Rs.547/ purchase and 477/- sale through intraday. Can I go for ITR2 it's very small amount. disclose all under Capital gain.
please advise.
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Capital Gain Intraday Transcation
Replies (11)
Quick Summary
Section 111A for short-term capital gains, you can file ITR2. You can setoff losses against STCG or you can carry forward the loss till 8 years
Can we show one intraday Transcation In ITR2
IF YOU DONT HAVE BUSINESS INCOME OR ELSE ITR3
As Per Provisions of Income Tax Act 1961 You have disclose Gain from Intraday Transaction as Speculative Business Income.
Intraday transaction are of speculative nature and same is to shown as business income.
There will be no impact if you show such transaction in ITR-2 under capital gain head but it is highly recommended to show it in correct head and file ITR-3.
There will be no impact if you show such transaction in ITR-2 under capital gain head but it is highly recommended to show it in correct head and file ITR-3.
Itr 2 or itr 3 selection depends on many factors
no doubt, tax principles written are skewed
@ Vaneet Monga,
ITR 3 is only applicable for the income. It is not a matter that we have small amount or big amount.
As per Your trading ITR 3 is must.
otherwise IT dept send notice about the income filing.
ITR 3 is only applicable for the income. It is not a matter that we have small amount or big amount.
As per Your trading ITR 3 is must.
otherwise IT dept send notice about the income filing.
Department will not issue notice for such a petty amount but it is not lawful or unethical
Thank you Mem,
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