Income of Salary and Capital Gain Source. (Both are combined below exemption limit)
there is Intraday loss of Rs. 650(Few Transactions) and short term profit of Rs. 150
can i use ITR 2 or need to use ITR 3 business Return.
Is it ok to ignore loss (Being small amount) and only show capital gain profit in return?
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ITR filing - Income Head
Replies (5)
Quick Summary
ITR 3 - Disclose presumptive profit on Intraday turnover under sec 44AD as business income. Do not ignore reporting the loss.
44AD
The assesse has not claimed any deduction under
sec 10A,10AA,10B,10BA 80HH TO80RRB
THE ASSESSE SHOULD BE ENGAGED IN ANY BUSINESS.
HOWEVER FOLLOWING PERSONS ATE NOT ELIGIBLE TO AVAIL ANY BENEFIT UNDER SEC 44AD.
A PERSON CARRYING ON PROFESSION AS REFERRED IN SEC 44AA(1)
THERE ARE MORE CONDITIONS.
The assesse has not claimed any deduction under
sec 10A,10AA,10B,10BA 80HH TO80RRB
THE ASSESSE SHOULD BE ENGAGED IN ANY BUSINESS.
HOWEVER FOLLOWING PERSONS ATE NOT ELIGIBLE TO AVAIL ANY BENEFIT UNDER SEC 44AD.
A PERSON CARRYING ON PROFESSION AS REFERRED IN SEC 44AA(1)
THERE ARE MORE CONDITIONS.
If I disclose profit us 44AD than i will need to follow it for 5 years ?
U have option to go for 44AD with in 5 yrs, after that, in next 5 yrs u are not allow to go for 44AD.
Advisable to show in capital gain and file ITR2.
With c/f STCL of 500.
Advisable to show in capital gain and file ITR2.
With c/f STCL of 500.
But nitesh do u satisfy these conditions.
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