A 600% jump in ITR-3 filings, thanks to intraday trading

According to data shared by #ClearTax, the number of people filing #ITR3 has surged dramatically, up by 600%!

Why this sudden jump?
- A large wave of individuals, including college students and freshers, have entered the #intraday and #FnO trading segments.
- With #SEBI’s repeated warnings largely ignored, the lure of “easy money” promoted by #finfluencers continues to draw new participants at a very rapid pace.
- Improved tracking via #AIS (Annual Information Statement) and tighter integrations with tax-filing platforms mean filers can no longer “miss” declaring such income.

The reality?
Many of these new, young traders are committing serious capital without steady income sources. Ironically, they also reported some of the highest losses in 2024.

Interesting stat: Despite the losses, ITR-3 filers had the highest retention rate, 91.6% last year.
Meaning, even after facing setbacks, most continue to stay hooked, hoping for a turnaround.

What do you think?
Is this a sign of growing participation in markets (a good thing)?
Or is it a worrying trend of young people chasing quick gains without sufficient #risk awareness?