ITR for FY 2022-23 : Cheat sheet for traders and investors

Zerodha Varsity
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Varsity tweeted the cheat sheet for filing taxes for FY 2022-23 and is also doing a twitter spaces on friday to answer all your questions. Here’s the summary of the same:

Treatment of income for traders and investors

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What ITR to file?

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Other points

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Capital gains treatment

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Set-off and carry forward provisions

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Audit applicability

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Disclosure of foreign assets

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Twitter Spaces on Friday

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How is STCG treated for a trader? Is STCG business income or capital gains?

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For equity delivery trading where the holding period is less than 12 months, STCG at 15% is applicable.

One can also treat this as a business income depending on the way one wants to present.

Side note: F&O trading is considered as non speculative business income. And equity intraday trading is considered as speculative business income.

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