Which itr form ?

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 June 2018 Dear Sir,
This is for my friend's itr filing of fy 17-18.
He has salary income of 2,93,000 and 80C is 53,000. So taxable income is 2,40,000.
He also has traded in stcg and intra day on small scale basis.
Turnover is 195000 apprx.of both and stcg gain is Rs. 493 , whereas intra day he has made a loss of 383.. So net gain is rs. 110..
Since he is a PSU employee, he shouldnt be trading in intra day as per employment rules. Hence i have suggested him to stop intra day from fy 18-19.
I have suggested to file itr 2 declaring 240,000 as salary and stcg as 110... This is to avoid filing itr 3/4, since his office people will understand that itr 3/4 is only for business class and he may face issues therein.
Alternatively, since if we file itr 2, then that would mean hiding of intra day loss and i-t notice might come.
Please guide me Sir, whether,
Option 1- Stick to itr 2 and file with only salary n stcg
Option 2- File itr 4 declaring intra day turnover with 6% (though losses) with salary n stcg
Option 3- File itr 3 with tax audit Please take into perspective the employment terms also and income tax angle too.
Thank You Sir.

24 June 2018 given the small amounts involved, just file ITR_2.

24 June 2018 Go by option 1 non disclosure of 383 intra day loss will not create any problem.




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