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Eligibility to file it return? ?
Hi Respected all, I'm rohit, 21yrs old. I expect you all to understand my concern and help me out. 1- In March 2015 I'm eligible to receive rs. 2500/- as interest on Fixed Deposit 2- From April 2014 I started Stock Trading and by the end of March 2015 my Short Term Capital Gain will be approximately rs. 1800/- So this way in the FY 2014-15 my earnings are around 3800 rupees. Also let me clear you one thing that I'm a student and my all investments are out of my gifts received this year's return on investment is my first earning in life time. Please tell me though my earning is below basic exemption limit, do I need to file return???
Replies (2)
You will be eligible for a basic expemption limit of Rs.200000/- since your income has not crossed the limit you need not worry about the taxes.
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Thank you vry much praveen sir, actually I was concerned about STCG taxation provisions.
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