Hi I started trading in 2016. Using Zerodha Tax PnL under ‘Q Backoffice’, I observed that my F&O Trading had a turnover of Rs. 21,248 and a total gross profit of Rs. 7,796.25. My equity trading had 2 segments:
Intraday trading (Turnover Rs. 554 and Gross profit Rs. 305) and Short term trading (Turnover: Rs. 45,258 and profit of Rs. 561.25 ). My queries are as follows:
- Is ITR 3 the right form to fill ?
- I am anticipating No CA audit requirement based on the criteria for an audit of F&O, can you please confirm if am right about it?
- Is it efficient to go to a tax consultant for filling the ITR or is there any resource which can help me in step by step filling of the relevant ITR (Assuming no CA audit required)? If tax consultant is better option, what is the cost I should be expecting for the whole process?
P.S. I believe many of amateur traders are facing these issues and if the experienced experts can throw some light on it and help us do the filling task with minimal cost, it would be of great help and value to us. Thanks!