New Delhi, Aug. 26 -- If you have been trading in the stock market and think every profit you make should be reported as capital gains while filing income tax return (ITR), it may sooner or later lead to an income tax notice and other consequences.

In some cases, share trading profits are instead treated as business income for tax purposes, depending on the nature and frequency of your trades.

This distinction is particularly important because ITR filing deadline for business income is just a few days away. While capitals gains can be reported through ITR-1 or ITR-2, for which the deadline is July 31, taxpayers reporting business income through ITR-3 or ITR-4 have until August 31 to file their returns.

If you participate in intraday an...