What should be Nature of business on ITR 3 form for FY 2017/18?

Nature of business code which 0204 - Trading:Others last year seems to be not available on ITR3 form this year. What code should I use?

Yeah, selecting the right code for Nature of business onITR3 form this year is a little tricky. I think it should be 130010 - Financial Intermediation/Investment activities.

The reason being other categories might need GST registration.

Do checkout taxation module on Varsity.

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Casinos and other games of chance-10011 looks even more appropriate :joy:

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True … only Casual Income are taxed at Straight 30% if we use Casino & other Games. :rofl:

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used 09028 = retail sale of other products

not sure if that is right

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With no available input on clear identification we can put this as well and wait when we get 143(1) ie processing of IT returns.

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Strange, no one knows clearly what “CODE” to be selected under “Nature Of Business” for intra day profit. Zerodha Co-founder “Nithin” himself had spent lot of time on Tax module of Varsity but seems he is not getting enough time for this forum! His help is highly appreciated.

As per my research I think “Retail sale of other products n.e.c 09028” would be good.

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Ah!! Now I think “13018 - Other financial intermediation services
n.e.c.” is more appropriate for intraday trades. Why the tax thing is so complex for even 5k intraday gain. A clear cut guide to put ITR 3 for non-audit case of ITR 3 will help many like me.

Can @Quicko not help us in such information as social service? A few sample screenshot will be huge plus for us.

Hi @RanjanZ

You can use code 09028 for Trading in Shares & Securities.

Hope this helps!

Thanks, going to use that.

I’m checking the list but I see 09028 is marked as ‘Retail sale of other products’. Can you confirm if that is the right code?

Hey @Ravi_Sharma2,

Yes, this is the right code.