Dear @Quicko I have posted my question on qna.tax but unfortunately no response. I do understand, many questions to be answered. Could you please answer here. My post/query was,
Good Evening Ma’am @Surbhi_Pal
I am new to ITR-3 & filing through quicko. I have filled all details but I have some doubt in balance sheet information (under Business & Profession - Zerodha Trading Business). Please clarify my doubt which listed out below.
Please note: My income sources FD, Dividend & Trading income only.
A. Asset & liabilities
- Under Asset & liabilities, what does mean investments (Long & Short Term). Is it my Equity investment or ?
- What does mean value of the stock held as on 31/03. Is it my holding value. If yes, I’m not able to enter the negative values.
- Can I mention, my laptop & mobiles under fixed asset which I bought it 2014 & 2020. If yes, shall I mention the same devices every year ie. 2025-26
B. Expenses
- I have life insurances of myself & family. Should I mention under Insurance (Sub head: Life insurance) or Should I mention under detection 80CCE. (I have PPF also)
- How to enter the Duties & Taxes & Transfer charges like STT, Stamp duties, Brokerage & etc ?. Should I enter manually calculate from Zerodha P&L report or is it already added.?
And last, so far I filled my ITR-1 under old regime but ITR-3 showing default is new regime. If I try to change, it’s asking form disclosure of 10IEA. For me, right now no issue with new regime but some of friends feels old regime who has housing loans. What’s your advice for them & how to change to old.?
Sorry for very such long question. Your answers will be helpful to beginners & new to ITR-3
Thank you & looking forward from forum members who has experience with my queries.