22 July 2008
If a salaried employee is having an income from trading in shares which ITR he has to filed, if he has already declared the income from share and included in the form 16 under the head income from other sources
22 July 2008
Income from trading in shares is not covered under the head of Income from Other sources. The trading in shares is an Investment activity or a Business Activity will be a decisive factor. In first case where capital gains are involved, Form No ITR-2 will have to be filled. However, in other case where it is categorised as a business activity Form No ITR-4 is to be filled.
CAclubindia
