INCOME TAX RETURN PROCEDURE IN CASE OF PERSON TRADING IN SHARES AS TRADER, Income Tax

[PIYUSH MITTAL]

Sir

I want to know the procedure of income return filling in case of person dealing in shares as trader both in short term,long term & intra day trading. Also whether the assessee has filed ITR under the provisions of Sec 44AD.

Posts / Replies

[CA GOPALJI AGRAWAL]

The delivery based transactions will be treated as normal sale/purchase while non-delivery transactions profit/loss turnover would be considered ignoring its sign (+) or (-). More detailed study could be had through Guidance Note of ICAI under Section 44AB of the Income Tax Act 1961

[MARIAPPAN GOVINDARAJAN]

Can you please cite the ICAI site menu for downloading this guidance?