I have three sources of income:
a. Salary and bank interest(exceeding basic exemption limit even after all possible deductions)
b. Short term capital gain from trading in equity cash segment only.
c. Intraday profit, again from trading in equity cash segment only ( Profit is greater than 8% of turnover, but does not exceed even 50000 )
Considering the above,
- I believe ITR 3 is applicable for me since I have STCG and ITR 4 is not applicable. Can you kindly confirm if that is right? Can I still file ITR 4 by claiming STCG as business income?
- Do I need to show book of accounts? From your earlier posts I got to know audit is not applicable, but there is no clarity regarding book of accounts
- Is there a presumptive taxation option in ITR 3? Or do I need to declare complete profit minus expenses.
- Can I switch back to ITR1 for next year without any questions from IT department if I only have salary income?
Thanks and regards,