Which itr for salary + speculation income

ITR 947 views 2 replies

Vaibhav Joshi

others

45 Points Joined May 2012

Hello experts,

I'm a salaried employee and have income from salary and some savings account interest.
In addition, I've done some investment in shares and my statement shows 2 sections:

(a) Short term capital gain & (b) Speculation Income.
STT is paid for both of these.

Question: Which ITR should I file (ITR-2 or ITR-4)? If ITR-2, then does Speculation income go under income from other sources and taxed as per my tax slab or since STT is paid, does it qualify under STCG?

I've no study done yet on ITR-4 as to which sections I'll have to file these incomes, if ITR-4 is the appropriate form?

Thanks and regards,
Mr. Joshi

Replies (2)

Rajagopalakrishnan R

PARTNER

1434 Points Joined May 2010

Yes ITR 4 is the appropriate form. Look for the section on SCH PGBP and under it for speculation business.

Vaibhav Joshi

others

45 Points Joined May 2012

Originally posted by : Rajagopalakrishnan R
	Yes ITR 4 is the appropriate form. Look for the section on SCH PGBP and under it for speculation business.

Thanks for the answer. So does that mean that ITR-4 is applicable even for a small amount (say Rs. 300) as intraday income (STT paid) for a salaried person (no any other business income)?