Get 3 Yrs of CCI Pro Membership at Greater Value. Subscribe Now!

Which ITR Form to file for income from equity shares

1007 views

Save Share

Cyrus V

OFFICER

22 Points Posted on 09 November 2010

My incomes comprises of salary, interest on bank deposits, dividends/interest from companies/mutual funds and also profit from trading in equity shares through NSE/BSE both short term and long term gains. I also clarify that i trade in equity shares frequently sometimes buying and selling shares within a period of 1 to 15 days.

Please guide which type of ITR Return Forms to file? Also whether I will be treated as a trader or investor by the Income Tax Assessment Officer and tax implications thereof.

Replies (2)

REVATI (B.com,CA Final)

Proprietor

112 Points Posted on 16 November 2010

I think ITR 2

U S Sharma

glidor@gmail.com

21670 Points Posted on 01 December 2010

if your all such trades have effected through DP then ur tax return status will not change , just capital gains will get added in tax computation,

to some extent if u have traded fut / options also and u have no intention to carry forward the loss ( if any) then also u can carry your existing tax return status, (ITR2),

only if u want to carry forward the losses of STCG/speculation business income, then the return form will be ITR4