Equity sale

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vaishnavi (Querist)
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12 April 2015 Is there a std format required by IT dept when filing return for short term delivery based equity sale? eg Date.... Quantity... Amount.. Does it have to b shown for evry script OR only gross profit disclosure?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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12 April 2015 1.The details under the head short term capital gains are required to be shown on periodical basis.
.
2. You have to provide the data of sales during a particular period.
.
3. Corresponding purchase value/cost of the items sold during the period has also to be
abstracted.
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4. 2-3 will be Gain/Loss .
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5.The periods are prescribed by keeping in view the advance tax calculation.
.
6. The periods are -
A.1.4.2014 to 15.09.2014
B.16.09.2014 to 15.12.2014
C. 16.12.2014 to 15.03.2015
D. 16.03.2015 to 31.03.2015.
.
7. In case you show such income under the head "Business Income" then you have to show the details of trading account in ITR 4 as Total Sales and Total Purchases like any other trading concern.

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