vinayak (accountant) (255 Points)
17 June 2019Which ITR form needs to be filed if I am having small amount of intraday profit (Rs.3000) and salary income of Rs.3 lacks (non taxable after deductions) for F.Y.2018-19 ? Will i have to pay tax on intraday profit on sale of shares even though my salary income is below taxable limit?
I purchase shares from IPO subscripttion and sale them within a week on which I have incurred profit of Rs.3000.
CA. Umesh kumar
(ca.umesh11@gmail.com)
(1465 Points)
Replied 17 June 2019
You have to file ITR 3 if you have salary income and intraday profit or loss from shares
Navin Agarwal
(354 Points)
Replied 17 June 2019
Om Goyal
(445 Points)
Replied 17 June 2019
CA. Umesh kumar
(ca.umesh11@gmail.com)
(1465 Points)
Replied 18 June 2019
profit and gains from intraday trading is of speculative business hence ITR 3 is to filed. If you buy and hold shares and sell within one year or after one year then use ITR 2
vinayak
(accountant)
(255 Points)
Replied 25 June 2019
In which column should I mentioned income from sale of shares purchased through IPO listing in ITR 2. What details I required to mention ? Should i Directly mention profit or I have to mention purchase sale and shares details also?
CAclubindia
