im a intraday trader. i never filed IT return before.
after completing my studies i worked overseas. now after coming back to india in 2016 i was running a small business.never earned more than 2.5 lakhs per annum.
During covid i wanted to earn , Adviced by my friend ,as most of the indians started to jump in trading. I have started to trad from April 2020 , continuing with losess until today.
can you plz help n guide me for Filing IT for Financial year 2020-2021. i wish to opt for any better service provider. below is the quick review of my P&L statements from zerodha and what i understand till now.
1.overall turnover for 20-21 — 68 lakhs
2. profit -25k for intrday options and -25k for equity trades(intraday and holdings 1 month time )
3. never filed IT return before.
4. last date for filing ITR3 is 30 september.
can u please elaborate which category should i opt for and will there be any advance tax penalty? i understand there will be no penalty coz i made loss . never earned more than 2.5 lakhs.
plz reply. appreciate ur feedback.