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Filing itr for salaried professional with other investments

Amit Shah (Software Professional) (28 Points)

25 February 2018

I would like to get some guidance on filing ITR returns for FY 2017-2018. I am a salaried professional (I would have Form-16) with investments in other sources and also in stock market. I have the income tax calculations done for incomes coming from other sources (i.e. based on my tax slab). Through the Mprofit applications and the contract notes I have the short term and intraday profit/losses calculated. How do I proceed with income tax return filing?
1. Given that LTCG is now taxed, how could I calculate that?
2. What ITR Form do I need file?
3. What steps do I need to follow to file the income tax on cleartax?
4. Should I be taking assistance from a CA to file my ITR? If so, what would it be for?

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5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160721 Points)
Replied 25 February 2018

Given that LTCG is now taxed, how could I calculate that?

Not for FY 2017-18......... it is tax exempt till all the transactions upto 31.03.2018.

What ITR Form do I need file?

ITR 3 in case of normal process. Otherwise ITR 4 if intraday gains can be declared under presumptive assessment. (The forms may change for AY 2018-19, the suggestion is based on AY 2017-18)

What steps do I need to follow to file the income tax on cleartax?

They provide paid service, if required.

Should I be taking assistance from a CA to file my ITR? If so, what would it be for?

Depends upon your experience in handling such job. Better to get help whenever any doubt.......