Which ITR to file

[Nireka]

Hi @shadab,

You can add your Intraday trades as a non-speculative business income and your Short-term trades under the head Captial Gains.

@shadab

How can I fill my ITR3 as I am not formally working with any company for more than 18 months,

If you are not formally working with a company you can report the income as contractual payments, consultancy, or any other professional income depending on the nature of income under the head “Income from Business and Profession”.

You can file ITR 3 and report your capital gains, business & professional incomes.
You can also use this tool to determine which ITR form is applicable to you:

Know Which ITR form to File | Quicko

@shadab

can I claim GST as I have created losses in last 2 years, can I claim my brokerage paid also.

Yes, you can claim GST as a business expense for your intraday trades. Here are some other expenses you can claim as a trader.

Expenses a Trader Can Claim in ITR - Learn by Quicko

Here’s a thread you can also refer for the discussion around claiming GST credits as a trader

@Nireka

The GST Act specifically excludes Securities from the definition of Goods. So there is no requirement for traders to have GST registration.
The GST paid on trading expenses such as brokerage, transaction costs, turnover fees, etc can still be claimed as an expense when filing the ITR.

Hope this helps