Income Tax Return: If you have earned from the stock market along with your job, then which ITR form is right for you?

Income Tax Return or ITR is a system through which taxpayers give information about their income and tax payment to the government through the Income Tax Department. Taxpayers have to file their ITR within the deadline. For common taxpayers, the last date to file their return for the financial year 2024-25 is 15 September.

You can file your return till tomorrow. But if you have earned from the stock market apart from your salary, then which form do you have to choose? Let us tell you.

This form is right for you.

Individuals and Hindu United Families (HUFs) can choose the ITR-2 Form for income received from sources other than their enterprise or business. Individuals with income from a job, house, capital gains, or other sources, and NRIs can also file Form ITR-2.

ITR-2 can also be filed by salaried persons who have made a profit or loss from buying and selling shares.

Who is ITR-3 for?

Individuals are required to disclose their income from a company or business. Salaried persons who earn money from intraday stock exchange or futures and options trade should file Form ITR-3.

Individuals can use ITR-3 to register income from a job, real estate, capital gains, company or trade (including estimated income), and other sources.

Is it necessary to file ITR if the income is not positive?

According to the Income Tax Department, if you have incurred a loss in the financial year, which you want to carry forward to the next year, so that it can be compensated by any positive income in that year or subsequent years, then you have to claim for the loss by filing the return before the due date.

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