Which ITR to file for share trading with Salary income

Dear Sir,

I am an employee of reputed IT company and have a CTC of approx 20 LPA and house rent income of 1.5 LPA. starting from this year , I do share trading all either Intraday or delivery trade. I have almost 5 lakhs profit made out of the trading, Which ITR i need to file ? whether I can file in other income section in ITR2 which I have been filing till date?

Replies (7)
Quick Summary
This discussion clarifies which Income Tax Return (ITR) to file when you have both salary income and profits from share trading. For intraday trading, ITR 3 is generally required, treating it as a business. For delivery trades, ITR 2 can be used, with profits reported under Schedule CG (STCG or LTCG). It's advised to consult the Income Tax Act for specific guidelines.

File ITR 3 with P&L  from the shares trading.

ITR 3

PART A - P & L - PROFIT AND LOSS ACCOUNT FOR THE FINANCIAL YEAR 2021 - 22 (FILL ITEMS 13 TO 60 IN A CASE WHERE REGULAR
BOOKS OF ACCOUNTS ARE MAINTAINED, OTHERWISE FILL ITEMS 61 TO 65 AS APPLICABLE)

65 - INCOME from speculative acitvity YHIS IS FOR INTRADAY

FOR DELIVERY ITR 2 IS OK

NEED TO FILL NATURE OF BUSINESS OR PROFESSION Code

Thank you for the details.

"FOR DELIVERY ITR 2 IS OK" - could you please let me know which schedule/section in ITR2 i can fill for delivery trade

Schedule CG

111A STCG or 112A for LTCG

Interest is like bussiness P&L /  Item

65

 

Thank you for the info.

For delivery trade , is there any upper limit 111A STCG or 112A for LTCG? 

Does IT Dept have any guideline whether delivery trade to be filed under CG or Business P&L(ITR3)?

 

Intraday is like bussiness ITR 3

Delivery only you can file ITR 2

You need to read income tax act 1961 laws and Rules available on IT portal for guide lines.

Thank you very much . It helps.

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