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Intraday trading and income tax

Tax queries 365 views 1 replies

Plz guide..

If anyone does regular intraday trading as well as some short term / long term  investment in share market,  but his total profit in a year does not exceed exemption limit, then is he required to file income tax return or does he require to make any disclosure?

I m bit confused as in intraday trading, turnovr in account goes on very high side...

Plz guide....thnx in advance....

Replies (1)

Always advisable to file return; otherwise compliance notice is sure to follow. Many times even tax audit is applicable.


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