i took loan from bank Rs.50 lakhs .
traded intraday : 100% online on nse .
turnover is less than 5 crores .
profit is Rs.45 lakhs .
i paid interest to the bank loan Rs.9 lakhs .
if i file ITR 3 : i have to pay tax on Rs.36 lakhs i.e. (45 lakhs - 9 lakhs) ?
BUT . i have to maintain the Balance sheet ?
Just , maintaining the Balance sheet ; is enough ; or do i also have to upload it and declare my all the assets and liabilities on the online portal of the income tax website ?
do i also have to declare my all inheritance jewelries of Rs. 70 lakhs in my assets while declaring the the balance sheet ?
in short ; do i have to declare and upload all my assets of the life till date on the government portal ?
if i do not want to declare my all the assets ; then i file ITR-4 ; wherein i have to pay tax on Rs. 45 lakhs ?
i will not be allowed to deduct the interest of Rs. 9 lakhs paid to the banker ?
am i right ?
what should i do ideally ?
pls kindly enlighten !!