ITR2 or ITR3? - Options Trading - Where to enter details - Turnover ₹99000 INR - Net Profit ₹500 INR

Taxation
1

Last year (Fy2022-2023) I tried my luck at options trading for a short period.

I need help on filing my IT returns.

Which ITR form should I select? ITR2 or ITR3?

Details: - Salary income: Taxable income below 20L

  • Zerodha Tax PnL report
    • Options Trading
      • Turnover ₹99000 INR
      • Profit ₹1200 INR
      • Zerodha charges + Stamp duty + STT etc : ₹610 INR
      • Final Profit: ₹590 INR
  • Also, I have Capital Gains from Debt Fund redemption, both LTCG (debt 3+ years) and STCG (debt >1 year but <3 years)

Please help me understand which Sections I need to select/enable in the corresponding ITR and where I need to enter the details for FnO trading and Debt fund CG.

2

Hi @locate-gate

You will be required to file ITR 3 as you have options trading which is a non-speculative business income.

Here’s how you can seamlessly Prepare your Income Tax Return : Help Center on on Quicko and proceed to e-file and e-verify the same.

3

Thanks for the response.

I am looking for help with filing my taxes myself, so while Quicko could be used, I do not wish to use any 3rd party tools/entities.

I just need to know the Sections I need to select/enable in the corresponding ITR and where I need to enter the details for FnO trading and Debt fund CG.