Queries regarding Shares Trading
This query is : Open
28 April 2016
I have received PAN earlier this month. And I have also an Savings Account with LVB and also a Demat Account. Now I would like to know that do I need to file Income Tax return if I do Share Trading? or what is the limit of transactions in this regard. Experts need your advice.
28 April 2016
If you earn an income from share trading above the basic exemption limit (2.5 lacs) you need to pay income tax and file IT return.
28 April 2016
Dear Mr. Ashish,
Share trading business is also covered under specified business u/s 44AD. Hence if your profit during the year of less than 8%, you'll need to audit your accounts. So be sure that you keep all your records up to date just in case
29 April 2016
Thanks a lot experts for your spontaneous replies.
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