Does anyone do intraday trading in stocks? What are the books that you keep? How do you prepare accounting statements for filing ITR 3?
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Quick Summary
This discussion focuses on the bookkeeping and accounting requirements for individuals involved in stock trading, particularly for filing Income Tax Return (ITR) 3. It addresses how to manage profit and loss accounts and balance sheets, distinguishing between speculative income from intraday trading, capital gains from delivery trading, and normal business income from options. The thread also touches upon compiling contract notes or generating tax reports for accurate tax filing.