Books of accounts for intraday traders

Do we need to maintain book of accounts for intraday trading (planning to report intraday losses in itr) ?

You don’t have to maintain seperate account of all your trades. If you are trading using Zerodha, you can download the Tax P&L report on Console, which will include all the reports related to your trading.

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I read that “book of accounts” is required if business/profession income is >=1.2 lacs (or may be 2.5lacs) or turnover >= 25 lacs.

Now my use case is:

  • I have salary income of 7 lacs.
  • I have capital gains(short+long) of 3 lacs.
  • I have intraday gains of 50k.

I will be filling ITR3 showing intraday as business income. So this means I need not maintain book of accounts as my business income is just 50k.

Is my understanding correct?

@siva any hints or redirect?


Hi, Yes you need to file ITR 3 and no need to maintain any books of accounts.


I think need to maintain books of account as income > 2.5 lacs