Which ITR should file

Taxation
1

Hello, @Quicko , I am unsure about filling out the ITR. I found various sources, like articles & videos but still my doubt was not cleared. Hope, you’ll clarify.

Please tell me which ITR should file for the for the following category of persons:

Scenario -A

  1. Only salaried: (Hope ITR-1)
  2. Salary + FD income: (Hope ITR-1)
  3. Salary + FD + Intraday:
  4. Salary + FD + F&O:
  5. Salary + FD + Intraday & F&O:
  6. Salary + FD + Only Equity (Short-term):
  7. Salary + FD + Only Equity (Short-term) + Dividend:
  8. Salary + FD + Only Equity (Long-term):
  9. Salary + FD + Only Equity (Long-term) + Dividend:
  10. Salary + FD + Only Equity (Short & Long term):
  11. Salary + FD + Only Equity (Short & Long) + Dividend:
  12. Salary + FD + Equity (Short&Long) + Intraday/F&O + Dividend:

In the case, of the above scenario if no FD is involved, any ITR will change? If Mutual Fund profits are involved, any changes?

Scenario -B

Scenario same as A but only salary not involved (like trading/FD/Dividend is an income)

@Quicko , still I have multiple combinations to ask but it looks very long question (already). If you create like Excel sheet with a filter option & the result will show which ITR to fill, this will help many beginners like me.

2

Hey,

In case of salary and interest from FD, which is treated as other source income, ITR-1 can be filed. If there’s capital gains as well, ITR-2 will be filed. Further, intraday and F/O trading is classified as business income and hence, ITR-3 needs to be filed. ITR-3 has all other schedules that ITR-1 and ITR-2 have, hence your salary, capital gains (both long-term and short-term) and other source income (interest and dividend) can all be reported in ITR-3.

Here’s a read that should clarify your doubts further: Which ITR form should I file for AY 24-25?

Let us know if you need any further clarifications.

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