This year’s ITR filing comes with some important updates. Capital gains rates have been revised, additional disclosures to claim deductions under old regime and complicated rules to opt in-n-out of new regime affect how you file your return.
With the due date of 15th September 2025 approaching, it’s natural to have questions – whether you’re filing for the first time or just want to be sure you’re doing it right. That’s why we’re here with this AMA.
Drop your questions in this thread and we’ll answer them all.
Also, here’s a video where Vishvajit Sonagara (founder of Quicko) breaks down everything you need to know about ITR filing for AY 2025-26.
Is “Delayed Payment Charges” and “Excess collateral & margin shortfall charges” already considered in Quicko during tax calculation. Also is it a valid deductible ?
Yes, both ‘Delayed Payment Charges’ and ‘Excess Collateral & Margin Shortfall Charges’ are valid deductions that you can claim for F&O. Quicko automatically imports this data from certain brokers, but if it’s not reflected in your records, you can easily add it manually during the filing process.
You can try recalculating the computation, and if the issue persists, please email us at [email protected] from your registered email ID, and we’ll assist you in resolving it.
@Quicko Can STT be only claimed as expense if one files ITR and shows trading as a business income?
If this is the case then how are trading losses carried forward for LTCG and STCG?
The minor’s PAN should first be registered on the Income Tax Portal. Once that’s done, you can log in with the minor’s PAN credentials and download Form 26AS, TIS, and AIS from the portal.
You can claim STT as an expense, if you report your trading income as business income in your ITR. You’ll need to maintain books of account, including opening and closing stock, holding statements, and purchase details. After calculating, if you have trading losses, you can carry them forward as business losses to offset future business income.
Hello @Ajay_Bhosle There seems to be UI error on tax computation. But all the taxes and rest everything is getting correctly calculated. Noted your feedback and our team shall look into the same at earliest.
I’m a day trader of derivatives and stocks. My primary income is through F&O, intraday equity and delivery trades. Most delivery trades are also held for a few days to a few weeks. I’m reporting all such income under business income.
However, there were some equity oriented mutual fund transactions, a few of which were sold after 12 months and hence, they are considered long term investments in the eyes of the law.
My question is if can I treat these mutual fund transactions as business income as well?
AIS might reflect buyback as an off-market short-term capital gain since it picks data from the company/stock exchange, but as per Section 10(34A) (till 1 October 2024), such proceeds are exempt in the hands of shareholders because the company already pays buyback tax u/s 115QA.
You can provide feedback on AIS for the mismatch.
You can disclose them in Schedule EI (Exempt Income) under “3. Other exempt income” and manually specify in the description as “Buyback of shares".
There is no official clarification from the Income Tax Department on what exactly should be entered in the “Document Identification Number” field in Schedule 80C for ELSS.
In practice, many taxpayers simply enter the Folio Number for ELSS investments under Section 80C, as it directly identifies the investment, while transaction reference numbers change with every SIP.
CBDT allows a taxpayer to adopt either the “investment” or “trading” approach for equities if consistently followed. But this relaxation applies only to listed shares/securities, not to mutual funds. Mutual fund units are always capital assets unless you are in the business of managing funds.
