Filing Income Tax for Intraday Trading

Income Tax Filing can be done via the official website Income Tax department.

For income tax filing of intraday trading, one needs to file the ITR 3 form.

Click Continue

Click ‘Continue’ to answer some questions. The ‘Schedules’ section will update based on the answers.

I had already filled up those, so I will ‘Skip The Questions’

Add the Nature of Business for Trading activity, by clicking on the row arrow

The click on ‘Add Another’ and the following screen will come up

Select Code as ‘09028 -Retail sale of other products n.e.c’

Put Trade name as ‘Income from intra-day and other speculative activities’

Click on Confirm and go back to Schedules section

Then go to ‘Part A – P&L’

Expand ‘No Account Cases’

Click on ‘Add Details’ and select ‘Speculative Activity’ on the tabs.

Add the total FY turnover and the Gross Profit (loss can be shown as amount)

Click Add, and then Confirm

Continue filling up other details of your income and expenditures and file your Income Tax Return

I have written this post based ont he steps I followed for filing the income tax returns with trading details. This post might update based on newer findings. You can click here to read more personal finance related articles.

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