Which ITR form needs to be filed if I am having small amount of intraday profit (Rs.3000) and salary income of Rs.3 lacks (non taxable after deductions) for F.Y.2018-19 ? Will i have to pay tax on intraday profit on sale of shares even though my salary income is below taxable limit?
I purchase shares from IPO subscripttion and sale them within a week on which I have incurred profit of Rs.3000.
You have to file ITR 3 if you have salary income and intraday profit or loss from shares
profit and gains from intraday trading is of speculative business hence ITR 3 is to filed. If you buy and hold shares and sell within one year or after one year then use ITR 2
In which column should I mentioned income from sale of shares purchased through IPO listing in ITR 2. What details I required to mention ? Should i Directly mention profit or I have to mention purchase sale and shares details also?
CAclubindia
