Master in Accounts & high court Advocate
9106 Points
Joined December 2011
For intraday profit and F&O loss, if these activites are considered a business, they should be reported under "Business or Profession" in ITR 3. Maintenance of books of accounts is madatory if the total income exceeds the maximum amout not chargeable to tax and the gross receipts from these activites exceed Rs. 1 crore or other specified thresholds. It is advisable to consult a tax professional to determine the appropirate ITR form and compliance requirements bassed on individual circumstances.