Hi,
I am a salaried guy with 6lpa CTC.
In Intraday (equity cash segment only) I have incurred a loss of ₹8000 & Turnover is ₹45000
STCG is ₹ -60 & Turnover is ₹1,81,000
LTCG is ₹0 & Turnover is ₹ 0
Do I need to mention my trading details in my ITR?
Kindly help. This is my first year into trading.
Regards,
Amitabh
While filing ITR , we should declare all Income or losses. Trading in equity should also be disclosed in the ITR . Filing wrong ITR can bring unnecessary pain in future.
I don’t think we need to mention trading details. I guess it all depends under which head the trading took place, like STCG, LTCG, Speculative Business (Intraday) and accordingly the applicability of tax liabilities are calculated.
There is one question that I would like to get clarified from experienced traders. When audit is required ? All the places where I read it said when turnover is less than 1 cr and profit is less than 6% then audit is required.
In my case I have
In Intraday (equity cash segment only) I have incurred a loss of ₹104.50 & Turnover is ₹210.50
STCG is ₹ 0 & Turnover is ₹ 0
LTCG is ₹0 & Turnover is ₹ 0
Do I need audit? >>>>Clarification Required Here<<<<
Also, do I need CA for filling IT Return? I am Freelancer. Previously I have filled return under ITR 2. What I have understood from all the sources till now is that I have to file ITR4 this year, please correct me here?
PS- I have traded only for a month.