Equity sale
This query is : Resolved
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
(Expert)
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.
.
4. 2-3 will be Gain/Loss .
.
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.
.
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.
.
4. 2-3 will be Gain/Loss .
.
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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