Do I need to add it to my salary income?

I have 6L taxable income for AY21-22. And I have the loss of 60000/- in F&O, profit of 15000/- in the equity sale(not intraday), and 15000/- FD interest which will be maturing on July 2021. My doubt is

  1. If I don’t want to setoff my FnO loss and proceed for ITR-2, When should I declare my 15000/- profit of equity sale?
  2. Can I show equity sale profit while filing ITR AY21-22?
  3. As my FD is maturing after the FY, Do I need to pay advance tax for my FD this year(AY21-22)?
  4. 600000 + 15000(equity sale), is this my final taxable income for AY21-22?

@Quicko, @San78 can you help me on this?

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While we wait for @Quicko , let me chime in

  1. I think you may have to file ITR3 or ITR4. Better to do it as these days IT dept has all details of trading.
  2. STCG I suppose
  3. Tax is on FD interest thats accumulated in the year, its not about maturity.
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Hi @fno_investor,

Since you have F&O trades, you need to file ITR 3 and report it as a non-speculative business income. It is always advisable to report all your incomes and financial activities to reduce the chances of getting a notice from the ITD. Especially since the CBDT has done data partnerships with various organizations like SEBI, CBIC, etc.

Read the below article to know more about set off and carry forward of losses:

You need to report the income in the year it is realized. So if you earned capital gains and FD interest in FY 2020-21, you need to report it when filing the ITR for that year i.e. in AY 2021-22.

You need to consider the incomes from all sources - salary, capital gains, interest, etc. to calculate your Advance tax liability

If your outstanding tax liability is above INR 10,000 you need to pay advance tax during the financial year.

Use this advance tax calculator to calculate your advance tax liability under the old and new tax regime: