Which ITR with less than 10,000 profit in intra-day share trading.

I am Salaried person have got around Rs.10,000 profit from intra-day trading. Can I file ITR-2 instead of ITR-4 for speculative gains. If yes, where I need to show this amount in ITR-2 as it needs to be added to my overall income.

asked Jul 22 '13 at 00:40 by Raghavan 112


Intraday trading would be treated as business activity for profits, so you would need to file returns using ITR-4 form (for business/profession).

answered Jul 22 '13 at 11:18 by Pankaj Batra 5.2k320

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Dear Pankaj, Thanks a lot! One follow up query on this, a) Should the Nature of Business be "1001-Other sector" as my source is salary? b) Also where this intra-day gain need to be shown in the "BP" tab of ITR-4? Is it under "Additions in accordance with section 28 to 44DA" under speculative business? Regards, Raghavan
(Jul 25 '13 at 17:29) Raghavan
I think, 0204-Trading-Others would be applicable here. You would need to fill Part BS, Part PL and then BP. In BP sheet under A-2i field, whole gains needs to be entered. Additions in accordance with section 28 to 44DA should not be applicable.
(Jul 27 '13 at 14:18) Pankaj Batra

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Asked: Jul 22 '13 at 00:40

Seen: 4,412 times

Last updated: Jul 27 '13 at 14:18