where to show intraday profit and fno loss in ITR 3. wheather maintenance of books mandatory
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Treatment of intraday profit and fno loss in,ITR
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Quick Summary
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.
Select itr as per source of income and quantum
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