income tax for retired person
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 January 2011
My father is a pensioner & he wants to open a trading account .what are the tax implications for the profits earned by him.does the pension will be counted as income and if no ,profit from trading is liable for return filing.
Aditya Maheshwari
(Expert)
12 January 2011
Pension income is taxable.
If gross total income exceeds the exemption limit then return filing compulsory.
If gross total income exceeds the exemption limit then return filing compulsory.
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