- Should I always use ITR3 to disclose my FNO gains?
- why not use ITR2 (when there is little trading activity -5-10 FNO trades a year) I think, if the income is above 5L, then one will end up paying 30% of each rupee earned. is it not better to disclose all the FNO gains on ITR2 as STCG? This way my maximum tax rate will be 15 %.
- One of the top CA (web based) say FNO trader cant use presumptive tax scheme. is that true? Varsity says we can use presumptive method.
- if presumptive(6% of turnover where t/o is less than 2 cr) is possible, can I use ITR3 or ITR4?
- can capital gains be included in presumptive tax method?
- Can I switch to normal method (book keeping, expenses, pl, etc) the next year and year 3 come back to presumptive method?
- should I use normal method by filing ITR3 and presumptive method to use ITR4?
note: i dont do intraday trading. I have some agri income + equity (long term) + fno gains. And I am ok not to claim expenses and not to carry the losses.