Please anyone Guide me.
Short-term profit = 2869
Short-term turnover = 475048
I want to show my short term capital gain in itr 4 to avoit CA audit. I studied in many Trading QnA articles that stcg shown in itr 4 as business income.
If stcg show as business income then tax slab rate for me 5 % is aplicable on turnover or profit ?
I know intraday and fno tax rate is aplicable on 8% profit of turnover. but what about short term because stcg turnover is very high.
You can’t show capital gains in ITR4. You have to show it as business income. If you do, minimum 6% of your turnover has to be shown as profit.
Btw, you can just file using ITR2, since you have only capital gains. There is no need of audit if you have capital gains/losses. Audit requirement is only when you do intraday or F&O trading.
Check this
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