ITR 3 Filing for Share Market Income | ITR for share Trading Income

📍In this session we have discuss ITR 3 Filing for Share Market Income with Intraday calculation #Sec111A #Sec112A #Intaday #Income

🗒Taxed under Capital Gains
If shares are not treated as stock in trade, then it shall be classified as Capital Assets and to be taxed under the head of “Capital Gains”. However please note intraday transactions shall always be consider as speculative business transactions**. “Capital Gains” means profits or gains arising from transfer of a capital asset
** Transaction for Risk management are not speculative transaction like hedging, forward & derivative contract. Capital Gain from equity share and equity oriented mutual fund have special rates of Income Tax u/s 111A and 112A and doesn’t not taxed at normal slab rates

🗒Taxed under Business Income
Under this type of trading, the share transaction is said to be complete only when there is actual delivery of shares/securities upon the settlement of transaction i.e., in other words, when shares are purchased/ sold on delivery basis, then those shares will be transferred to/from Demat account of the buyers/sellers. The buyer of the share will have to pay the full value of share and the share will become his asset with that either he can trade in his business or hold for investment. As per Section 43(5) of the Income Tax Act, 1961, intra-day trading shall be considered as speculation business transactions and the income therefrom would be either speculation gains or speculation losses. Income from speculation gains is taxed at the normal rates. Accounts of intraday transactions and other transactions are need to maintain separately. Expenses including STT shall be book as expense and normal PGBP provision shall be apply.

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Team Fintaxpro

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Disclaimer- Although all provisions, notifications, updates, and live demos are analyzed in-depth by our team before presenting to the public. We hereby provide our point of view only and tax matters are always subject to frequent changes hence advisory is only for the benefit of the general public. Hence neither Fintaxpro Advisory LLP nor its designated partner is liable for any consequence that arises on the basis of YouTube videos.

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#ITR3 #Share #Trader #STCG #LTCG #111A #112A

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Cheers Folks
Thanks for Watching :)
Team Fintaxpro

Our Social Handles-

Disclaimer- Although all provisions, notifications, updates, and live demos are analyzed in-depth by our team before presenting to the public. We hereby provide our point of view only and tax matters are always subject to frequent changes hence advisory is only for the benefit of the general public. Hence neither Fintaxpro Advisory LLP nor its designated partner is liable for any consequence that arises on the basis of YouTube videos.

©️Fintaxpro Advisory LLP

[adityachouhan]

Most underrated video
Must watch for new traders

[moorthi]

Great In one hour you have completed the filing, concept of ITR 3 Thank you

[CreativeMate]

Agar trading, intraday, investment and income from business to kya difference hai or itr kaise fill kare is par ek tutorial zarur banayenge...

[harishgarden]

Very useful and informative sir thank you very much

[youganderkummari]

It was very helpful at the nick of the moment. Thank You.

[chitraprakash]

Thank you sir....bahut hi badhiya bataya hai apne...

[kiransuthar]

Very very thanks sir. YouTube me itr ke bare me details me jankari aap hi dete hai.

[tribhuvanpurohit]

Very very nice explanations
Sir please share script wise summary also for understanding Turnover throughout
🙏

[harjitsandhu]

HELLO SIR, IN WHICH SECTION WE HAVE TO ADD THE COST OF LAPTOP OR ANY ACCESSORY WHICH WE PURCHASED FOR OUR BUSINESS

[dhulipalamalleshwaraswamy]

Valuable information given. Thank you sir.

[jaypreetjoshi]

very commendable video. thank you very much for information in free.

[sudhirmhapankar]

Sir ...do we need to upload the balance sheet since we have Non speculative and speculative business income.

Pl clarify...it's a request

[LPBOXN]

long term ka turnover bhi tax audit me add kerna hota hai kya (for both after and before 31 jan 2018)

[ns]

Excellent presentation. However, where we have to fill up the F&O turnover, profit, expenses in the income tax portal pages? That is not explained. Can you please clarify that?

[vickyahuja]

Is there any video of yours on 44AA?
I need to know when there is need for maintaining books of accounts.

[urmilase]

As per the grandfathering concept the capital gains are calculated according to the price on 31 jan 2018 and the LTCG is calculated accordingly. So for a trader would the same grandfathering concept apply(for equity bought before 2018)? and the sum of the capital gains that is normally under LTCG +STCG would add up to become the profit right?

[anantkolhe]

Thank u very much Sirji ... very useful while filing itr3

[aloks]

can we add dividend income to PGBP instead of other income for share trading?

[VarinderPalSingh]

Thank you so much FinTaxPro, Great person having great knowledge.

[praveenbasra]

How to show Short term capital LOSS and Long Term Capital LOSS in quarterly schedule. It is not accepting NEGATIVE values.