Hi!
I am trying to fill up ITR4 form in the excell utility for day trading profits as follows:
Filling up ITR4 FORM using Incometax Excell Utility for Day trading Profits and Losses.
Begin with Part Part A-P & L Item 51 No account Case
1.Day trading Profit in Equity(Speculation): 9445
2.Day trading Loss in Equity(Speculation): 12048
3.Therefore Fill up Gross Receipts ITEM 51 a as 1+ 2 :21493
4.Fill up Gross profit b
9445-12048) : -2603
5.STT STAMP ETC not deducted as expenses for day trading.
6. Excell calculates Net profit Item 51 d : -2603
Now go to Schedule BP Computation of income from Business or profession
7. Schedule BP Item A 1 Profit before tax gets automatically filled up as -2603
6. Fill up Item A 2 in schedule BP as -2603 Since there is a loss.
Can you please confirm if the whether Gross receipts above is correct.