Return Filing

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  1. NIKITA MOHAN RANE

    NIKITA MOHAN RANE New Member

    Hii Everyone....
    As trading in F&O will be business income but if it is a salaried individual who had made investments in F&O so im confused how to disclose it in the return.
     
  2. Shoban Singh

    Shoban Singh New Member

    If you are a salaried person who trades in stocks, filing income tax returns can be a tricky job. Depending on the instrument, frequency of trade and volume, you can either fill the ITR-2 form meant for the salaried with no business income or ITR-4 is for income from business and profession. If a salaried person does not trade regularly in F&O or intraday, and has losses below Rs 30,000, it's best not to claim losses and fill ITR-2. The compliance cost can be high since the chartered accountant who audits the books will change at least Rs 20,000-30,000, wiping out any gains you have made. In case of small gains, the person can declare them under income from other sources.
     
  3. SUNNY NARANG

    SUNNY NARANG Member

    If transaction entered in share market as investment- then it will be covered in capital gain andif it is entered as business transaction then it would be covered in Business loss or gain.
     
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