Which ITR to file?
Hello I had an earning of Rs 3000 only by selling some stocks which I purchased and sold within a week. After that I have done no purchasing g of selling. My salary is less than 10 Lakhs. So which ITR should I file? I used to file ITR 1 only till the previous year. Will I need to do something different in ITR 1 or will I need to file ITR 2?
First check AIS and TIS form on IT portal. Does that record your selling/buying activity. If it does, go for ITR 2 and mention it in Short term gain. But if AIS/TIS form doesn’t show it, then you can just ignore it (at your own risk though).
Last I remember, that for now, they are not able to track Intraday and very short term buy/sell activities. And a few times, for Intraday profit of Rs 500-1000, I had completely ignored the amount. But once check what it shows in your latest AIS/TIS forms
For intraday itr3 will be required to fill actually
Yes it shows in those extra forms. In some I had gained and in some I had lost some amount. There were two three diff stocks. In the end I had a profit of only Rs 3000. Also I had sold them after one or two weeks time frame not same day as of purchasing.
Now what to do? I hope it's not intra day right. Is ITR 2 necessary now?
I believe this is your short-term capital gains, and then you need to fill ITR2 mentioning this gains and It will be added to your total income which will still be 12L limit under next tax regime then you don't need to pay any taxes. Hope this helpa
Thanks this helps. But I had earned it last year. I was thinking since it's just a small amount maybe it's not even needed to fill.
If it's stocks then short term/long term capital gain is applicable so you can file the ITR but as you said 3K then I don't think that make much of a difference if you have no other income source.
My wife was salaried for some months, then started cloud kitchen. Have also sold few shared (around Rs 10,000). Also has income from a rented property.
Which ITR is correct for her?
You should file itr 2 to avoid any mishaps, it's fairly simple to file
