SIR, OVER THE PAST THREE YEARS FROM FY 2017-18 ONWARDS I HAVE BEEN TRADING SHARES WITH A TERMINAL AT HOME AND HAVE BEEN FILING IT RETRNS AS A TRADER- BUSINESS INCOME IN ITR -3.
I INTEND TO STOP TRADING WEF FROM 31-3-2020 AND START INVESTING IN SHARES FROM FY 2020-2021. CAN I COMMENCE FILING ITR IN ITR-2 FROM FY 2020-2021 AFTER I STOP TRADING. IS A PRIOR INTIMATION TO THE INCOME TAX DEPARTMENT REQUIRED. PLEASE ADVISE.
V RAMACHANDRAN
COIMBATORE
No need for any information; but justification about the change in pattern may be asked; for that a new set up would be more helpful.
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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SMJ global advisors pvt ltd
New Delhi
B.Com
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CAclubindia
