Which return to file if intraday trading done for few months and result was loss now completely stopped

Taxation
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I AM CONFUSED ABOUT FILLING OF TAX WHETHER I SHOULD GO FOR NORMAL TAX FILLING OR I SHOULD CONSIDER TRADING AS A BUSINESS AND SHOW LOSS FOR SAME AS I INCURRED LOSS IN IT,I AM A SALARIED PERSON

1 Like
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For that i suggest you to read some of the link 
>>http://zerodha.com/z-connect/traders-zone/taxation-for-traders/taxation-simplified
>>https://tradingqna.com/3831/futures-%26-option-turnover-calculation-for-taxation
>>Now Overview(Requested to read applicable link or section) :- You can able to carried forward losses as you had incurred the loss.
>> see what is your Turnover for that year. if your turnover is more than limit mention u/s 44ab than you have to go through Tax audit(Read careful about 44AB and turnover calculation)
>> some more link - https://tradingqna.com/44302/salaried-trader-and-investor-with-agri-income-and-cash-gifts , https://tradingqna.com/54943/taxation-for-intraday-equity

thnx

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Mr Kartik99,

if your turnover is less than Rs1 crore then you just file ITR-4 where you can show your income in the form of Salary you earned during the year and also loss that you suffered during the year…Losses that you made in intraday trading ( either speculative or non speculative) can be carried forward for next eight years but you can not claim them from your salary income…

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Thanks for your reply sir,but my ca is insisting on filing itr3 .I want to know how to show the expenses which i incurred for trading like internet and brokerages.

Is there any way i can include a portion of my rent in the expenses as i am getting lease and other than that i pay 2000 extra from my pocket for rent.

Please Advise

Regards

Kartik

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@Kartik ITR-4 is for presumptive tax in case some one opted 8% as profit on total turnover, however in other cases if you do your business on Proprietorship basis then yes ITR-3 will be used…