Should I choose ITR2 or ITR4

Taxation
1

I am a public sector employee.
(Salary is my primary income - 7L per year).
I have for this financial year:

  1. short term capital gain of 1L.
  2. long term capital gain of 1.5L.
  3. Total gain of 0.5L in Options trading.
  4. I don’t do intra-day trading.

Which form should I choose ITR2 or ITR4 while filing.

Suppose my income from 1-3 (STCG,LTCG and F&O) above exceeds my salary in a future financial year, which form I should go for.

2

@Vinod_V you have complicated situation. As per my understanding, once you do option trading you have to choose between ITR-3 & ITR-4. ITR-4 is for business income and ITR-3 is for presumptive income. I m not very clear on their differences. However, doing job with PSU, you must have been prohibited for simultaneously doing business. So ITR 4 would be inappropriate in your case. Expert boarder is requested to comment on above point. I too have similar situation and planning to see a CA with audit prospect.

3

You definitely cannot go for ITR-4(presumptive scheme) in case you’ve done F&O trading from what I know. Get some expert opinion on this. Also you have Capital Gains, for which ITR-3 is the prescribed form. 95% probably you need to file ITR-3.