25 July 2019
Kindly advice me on the following... 1. Salary income is Rs. 3,00,000 for FY 18-19 2. Intra day net result is Rs. 15,000(loss) but total turnover is Rs. 9,00,000/- (total turnover here refers to sell value and not sum of profit & loss in absolute terms)
My query is can i file Itr 4 on presumptive basis in this case by taking 8% of Rs. 9,00,000/- i.e, 72000 as income from speculation business and Rs. 300,000 salary income...
Kindly suggest whether to use itr 4 or not...Or should i use ITR 3 as I'm ready to show more than 8% of share trading turnover.
25 July 2019
Yes, you can i file Itr 4 on presumptive basis in this case by taking 8% of Rs. 9,00,000/- i.e, 72000 as income from speculation business and Rs. 300,000 salary income...
CAclubindia
