Can a government employee do intraday? If yes, then what is the Income Tax Process?
Intraday Trading refers to buying and selling of stock on the same day. The trader squares off the trade on the same trading day and does not take actual delivery.
For Income Tax purposes, the intention is considered to earn profits from the fluctuations in prices. Therefore Intraday Trading of Equity is taken to be a Speculative Business, and it should be reported under Income from Business & Profession in ITR 3.
Yes , intraday is speculative income and one have to fill itr 3 for intraday.
But the question is, can a govt employee do intraday legally ?
And is govt employee eligible for filling itr3 ?
Hey @souvik7pal, you can find the answer to your question from this article:
That means there ia no way to do intraday trading if you are a govt employee