If you have one or two odd trades like these (BTST), then it can be treated as STCG/L. But if most of your trades are like these, then you have to classify them as speculative, otherwise if an AO catches, he will ask you to do the same.
Whether to file ITR -2 or ITR -3 … I have profit in STCG and loss in Intraday… I just calculate taxable profit in zerodha and put amount in STCG and paid taxes and filed ITR 2 … Turnover amount is found 82000 …Do i need to revise my return or it is correct
You don’t have to use any of following ITR -: ITR-1, ITR-2, ITR-4 even if you have traded in speculative business ( Intraday) or non- speculative business(F&O) even if you faced loss in trading. And capital gain on equity are taxed on and set-off under capital gain. You don’t need to set-off against loss inquire from business. And make sure intraday loss are set-off under intra-head that is against speculative income. And business income are set-off against other than salary ,capital gain. If you trade stock on delivery basis frequently you can treat that as business income. But in point of view you don’t take stock-in-trade rather you treat it as stock-in-investment.
So according to your question will you have to revised itr u/s 139(5), then my answer will be yes and always. You should not consider intraday loss as capital gain loss and set-off against it . You will face lot of problem later on. Might get defective notice from AO.
You can use @Quicko website or application for this purpose.
Make sure to claim expenses that was for business from brokerage, stt to other expense like telephone bill , internet charges, stationary too and don’t claim cash based expense you could be face audit if you bleached 5% limit for cash expenses.