Dear All,
Sorry for writing this q seeking an urgent reply but will be very grateful if you would kindly advise as I am in too much confusion and time is running out.
1. I have done few trades in same stock over period of time. Say bought 200 at x rate and after few days again bought 100 at y rate. Then sold 120 shares again after few days since last purchase at say a rate which is more than y.
I am having account with zerodha. It does not show me calculation on FIFO basis transaction wise computation of capital gain in such cases. It does give me consolidated report with short term long term or scrip wise but how can it be verified easily in cases I mentioned without doing too much manual work as there can be multiple trades at different points of time at differing rates which requires FIFO application?
2. I just did one intraday transaction (more from learning perspective) and it seems that now taxation confusion has arisen.
(a) Just bcz of one transaction intraday do I need to report it as speculative business income under head profits and salaries.
(b) Do I need to use ITR 3 instead of ITR 2
(c) For remaining delivery based trades can I still report them as capital income (barring intraday one)
(d) this audit is driving crazy. Have read so many times not clear. I m having no salary. Only interest bank of 3K and 4k share delivery based trade income. One intraday gain of Rs 50. Apart from this loss from house property bcz of interest on home loan. DO I need to get audit done?
(Basically I am unemployed due to personal reasons and wanted to learn and experience stock market so last few months did studied and tried transactions through zerodha)
Again I am not really willing to expend more money especially being unemployed and want to file return myself.
Kindly guide Pls. Thanks in advance All.
CAclubindia
