How to File ITR for Upstox?

Understanding Upstox Tax Filing: Learn to file your Income Tax Return (ITR) efficiently with Upstox, tailored for traders. Crucial Document: Tax P&L Report: Utilize Upstox's Tax P&L Report to compile your trading gains and losses.

Choosing the Right ITR Form: Opt for ITR-2 for capital gains or ITR-3 for business income from trading activities. Key Dates to Remember: File your ITR by 31st July to avoid penalties, unless extended by tax authorities.

Tax Audit Considerations: Determine if your trading turnover warrants a tax audit under Section 44AB. Calculation Tips for Turnover: Compute turnover accurately for equity, commodity, and currency trading.

Budget 2020 Amendments: Note changes in turnover limits affecting tax audit applicability. Step-by-Step Guidance: Simplify equity intraday, futures & options, commodity, and currency trading turnover calculations.