26 July 2022
Dear sir, One of my relative have income from salary and profit form share . During 21-22 salary 5 lakhs and income from from share trading is 1 Lakhs. He also make payment for LIC also my doubt is 1.which ITR Form is used . 2 Tax rate for share. Please advise
27 July 2022
If the share transactions are delivery based, file ITR 2. In case they are intraday or F&O trades, its advisable to file ITR 3. The rates are as per slab rate for business income; otherwise as per short term capital gains at 15% or LTCG at 10%.
CAclubindia
