Is it mandatory to file ITR for traders?

Security traders can declare 6\% of the turnover), then you will be required to file ITR 4. However, you will be required to file ITR-3 if you declare your F&O income as presumptive business with capital gains. When we declare F&O income as presumptive business and we have capital gains ITR-3 is applicable.

Does day trading complicate taxes?

A profitable trader must pay taxes on their earnings, further reducing any potential profit. Additionally, day trading doesn’t qualify for favorable tax treatment compared with long-term buy-and-hold investing.

Is intra-day trading included in income tax return?

Yes , intra-day trading is considered as income from speculative business and one has to file ITR 4 to file income tax. further you had losses so you can ask for depreciation for the equipment used.. for detailed info visit..

Do I need to file itr3 for intraday trading?

Salaried individuals who made gains or losses from intraday trading must file returns using ITR3. You can claim all expenses incurred on your transactions, like brokerage, security transaction tax (STT) while calculating your net loss or gain from intraday trading.

How to claim gains and losses from intraday trading?

You can claim all expenses incurred on your transactions, like brokerage, security transaction tax (STT) while calculating your net loss or gain from intraday trading. This form was revised last year to include more details, so keep your paperwork handy. Any gains on equity market trading is usually filed under capital gains in ITR2.

Why should you disclose intraday gain & loss while filing ITR?

The investors aim to make profit on the volatility of stock price on a same day. Therefore, it is imperative to disclose any intraday gain & loss while filing income tax return (ITR filing). Intraday gain & loss is different from capital gain. In case of capital gains, the stock is kept in hand for at least 1 day before it is sold.