ITR Filing AY 2026-27: New Disclosures for Intraday and F&O Traders

The rules on bookkeeping and tax audits also apply. Traders must maintain books of accounts if turnover exceeds 25 lakh rupees in any of the preceding three financial years. The same requirement kicks in if net profit exceeds 2.5 lakh rupees. Those figures determine whether a tax audit is necessary. For non-audit cases, the due date to file ITR-3 is 31 August. Traders who need an audit have a later deadline.

One trap is presumptive taxation. Some traders assume they can file ITR-4 under the presumptive scheme. That is not allowed for intraday or F&O income. Filing ITR-4 when ITR-3 is required leads to a defective return. The department can reject it.

The expanded disclosures mean traders should review their turnover calculations and business classification carefully before filing. Separate the intraday and F&O numbers in financial records. Make sure the business codes align. For traders who also hold long-term stock positions, the stock market analysis at AlphaScala explains how capital gains interact with business income.

Choosing the right broker also affects reporting. Our list of best stock brokers includes firms that provide trade-wise business income reports, which simplify turnover calculation.

Traders who meet the audit threshold should prepare for a statutory audit. Those who don't have until 31 August to file without penalty. Getting the form, code, and turnover number right reduces the risk of a notice later.