Very less single intraday profit (Rs. 155), ITR-2 or ITR-3?


Due to an unintentional transaction I got Rs. 155 profit in a day which is my only intraday transaction of the year.

Following are details from Broker:
Intraday/Speculative profit - 155.8
Intraday/Speculative turnover - 244.8
Short Term profit - 17431.25
Long Term profit - 0

My Earning from Salary is approx. 20 lacs.
Do I need to use ITR-3 or Can I use ITR-2?

I would prefer ITR-2 if possible as I don’t have much knowledge on ITR-3.
Also do I need to maintain a Book of accounts as per section 44AA?

Hi @hpaul

Based on the information provided by you, you will have to file ITR 3 as you have income from intraday trading which is a speculative business income.

If you opt for the presumptive scheme, only then you’re not required to maintain the books of accounts.
Assuming your intraday transactions would be digital in nature, you can maintain the books of accounts and opt for the regular scheme of taxation and maintain books of accounts.

Hope this helps.

If it is intraday loss and if I am ok not to carry forward the loss, still need ITR3?

Hi @Venkat_Naidu

It is advisable to report the intraday in ITR, irrespective of profit or loss as it is a speculative business income.

Hi @Shrutika_Shah,
Thanks for your response.
I understand the appropriate ITR form for me is ITR-3. However I am not familiar with all the points, terms and clause in ITR-3. Just for Rs. 155 /- of accidental transaction, it looks an overburden to me. So I was preferring ITR-2. One of my friend suggested me to go with ITR-2 and show this profit as income from other source. However I a not sure if that is a correct way, or if there is a chance of getting a notice if I do so. Can you please suggest if it is allowed or there are any other alternative way to go for ITR2?

Hi @hpaul

Technically ITR 3 should be filed as it is an intraday transaction which is a speculative business income. However, if you show it as other source, it is wrong and there could be chances of a notice from the ITD. Also, your broker reports all the details of the PAN to the ITD and the ITD has the information related to your PAN and is displayed in your AIS.

It’s up to you to file the ITR which you deemed to be fit after knowing all the relevant facts.

Hope this helps.

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