Hello, @Quicko , I am unsure about filling out the ITR. I found various sources, like articles & videos but still my doubt was not cleared. Hope, you’ll clarify.
Please tell me which ITR should file for the for the following category of persons:
Scenario -A
- Only salaried: (Hope ITR-1)
- Salary + FD income: (Hope ITR-1)
- Salary + FD + Intraday:
- Salary + FD + F&O:
- Salary + FD + Intraday & F&O:
- Salary + FD + Only Equity (Short-term):
- Salary + FD + Only Equity (Short-term) + Dividend:
- Salary + FD + Only Equity (Long-term):
- Salary + FD + Only Equity (Long-term) + Dividend:
- Salary + FD + Only Equity (Short & Long term):
- Salary + FD + Only Equity (Short & Long) + Dividend:
- Salary + FD + Equity (Short&Long) + Intraday/F&O + Dividend:
In the case, of the above scenario if no FD is involved, any ITR will change? If Mutual Fund profits are involved, any changes?
Scenario -B
Scenario same as A but only salary not involved (like trading/FD/Dividend is an income)
@Quicko , still I have multiple combinations to ask but it looks very long question (already). If you create like Excel sheet with a filter option & the result will show which ITR to fill, this will help many beginners like me.
Hey,
In case of salary and interest from FD, which is treated as other source income, ITR-1 can be filed. If there’s capital gains as well, ITR-2 will be filed. Further, intraday and F/O trading is classified as business income and hence, ITR-3 needs to be filed. ITR-3 has all other schedules that ITR-1 and ITR-2 have, hence your salary, capital gains (both long-term and short-term) and other source income (interest and dividend) can all be reported in ITR-3.
Here’s a read that should clarify your doubts further: Which ITR form should I file for AY 24-25?
Let us know if you need any further clarifications.