FY23-24: How to report long-term capital gains in the income tax return?

I have capital gains on the sale of equity shares and mutual funds I bought in 2020. Which ITR form should I choose, and where should I report these gains in the ITR? For listed domestic shares and mutual funds, if the holding period exceeds 12 months, the gains are considered long-term. Since the shares […]

Content, Quicko
12 Jul 2024

FY23-24: Step-by-step guide on filing tax return for traders

Filing Income Tax Returns (ITR) can be challenging, especially for stock market traders involved in different segments such as Futures & Options (F&O), intraday trading, and delivery-based trading. So here’s a step-by-step guide if you want to file the ITR yourself. Step 1: Go to the e-filing portal > File ITR > Select assessment year […]

Content, Quicko
06 Jul 2024

FY23-24: Do You Have Losses from Trading? Here Are the Set-Off and Carry Forward Provisions

Could I offset my trading loss with the profits I earned on my long-term stocks and mutual funds holdings? What are the set-off rules for trading loss? Let’s first understand how income from different transactions is classified. F&O trading is classified as a non-speculative business, while intraday trading is treated as a speculative business. Further, […]

Content, Quicko
28 Jun 2024