Please tell me which itr to file if i trade in equity shares and have loss in options trading and some dividend income while I am a housewife and my husband a government employee and files itr 1.Gross income of both 950000.
Replies (15)
Quick Summary
This discussion focuses on determining the correct Income Tax Return (ITR) form for individuals involved in equity trading, particularly when experiencing losses in options trading and receiving dividend income. The advice suggests that ITR-2 might be suitable, but ITR-3 is often recommended for options trading, as it's typically treated as business income. The final recommendation leans towards ITR-3 due to the nature of options trading losses.
Your husband being a govt. employee will file itr 1 as per form 16 issued by the employer. Since you are a casual trader. It depends on two aspects -1. gross income. 2. source of income. itr 2 will be best. Itr 1 can also be filed if the income is lesser.