Itr2 or itr3 intraday trade 1 loss of 70 paise

Hi

Thank you for your help

I reviewed my broker statement to see intraday sale entry for 70 paise loss. I used to file itr2..now should i file itr3 for this small amount or should i ignore. Please assist how to proceed. I am new to self filing my itrs. 👍

You have a blessed day 

Thank you Subin 

Replies (4)
Quick Summary
A taxpayer asked whether a 70 paise intraday trading loss requires filing ITR-3 instead of ITR-2. The discussion clarified that intraday trading is treated as speculative business income and should be reported in ITR-3, while normal delivery-based share transactions may still qualify for ITR-2.

Legally and systemically, the user should file ITR-3. Intraday trading is classified as speculative business income, which cannot be reported in ITR-2. Even though the amount is only 70 paise (rounds to ₹1), ignoring it can cause an automated mismatch notice if the broker has reported the intraday transaction in the user's Annual Information Statement (AIS).

Ok Sir Thank you for your assistance.

Sir. I have same problem.Suffiecient hold balnace in Demat account for particular shares. I ordered for sale of some shares, in the morning session. In last session I placed order for buy of same company shares. Both transactions were for different quantity and within my holdings in Demat account. Both are cash transaction,

Is ir speculative profit or loss if any?

 

Dear Sir Speculative income comes only in intraday transactions.Cash transactions if only under certain limits will not trigger business income so you can file with ITR2..

High frequency cash transactions during the year can attract tax notices to mention them under business income ITR3..If your case is one off you should be ok I guess. 

This is as per my understanding.Feel free to correct me :)

Thank you 

Subin Babu

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