Purchase = 28 lakh in one year.
Sale = 31 lakh in one year.
I bought 29 times, sold 29 times in one year.
Should I show as capital gain in ITR2 or as business income in ITR3?
ITR4 cannot be used because of mutual fund capital gain.
If ITR3, then should I show under 44AD? No Accounts Case?
If I show under 44AA then what about GST? Is it applicable to delivery based stocks?
u can show it as capital gains if ur intention is to held it as investment and if ur intention is to do trading regularly then it is considered as business income. If it is considered as business income, u can file Itr 3 or Itr 4 based on ur affordability of Audit fee and tax payable. you can show it as presumptive taxation u/s 44AD or u can maintain books of accounts and get it audited if ur income is below the percentage specified in 44AD
Securities do not come under definition of either goods or services under GST and it is a non taxable supply
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