Comment on Tradetax for income tax returns when trading
commented on
24 Jul 2017, 09:29 AM
The issue is, IT department gets to know that you have traded buy not declared on your ITR. They won’t know if it is a loss or profit, unless you declare it. So there are chances of getting a notice if you don’t declare even the loss.
The correct way to do is ITR3, but yeah some people tend to show intraday losses also as short term losses on ITR2, which is not correct.