trnghosh (sr asst) (207 Points)
16 June 2023My son who is doing his postgraduation in medicine from central institution and getting stipend and his institution deduct TDS as the amount of stipend is taxable. He has one Dmat account through which he invest in shares ( mainly invest money but do not do day trading). My question is whether he will choose ITR 1 for submission. Please respond me as I have to submit his return within 31st July 2023.
Hoping your kind assistance.
Thanks
T K Ghosh
Kolkata
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177736 Points)
Replied 16 June 2023
If there is no sell transaction of any shares from his demat account, then yes you can file ITR 1.
trnghosh
(sr asst)
(207 Points)
Replied 16 June 2023
There is one sell in this financial year.
However thanks for the information.
T K Ghosh
trnghosh
(sr asst)
(207 Points)
Replied 17 June 2023
Thanks for the response. I have another question if I choose wrong form does it gets notice from Income Tax authority?
RITESH KUMAR BHAGAT
(Student)
(110 Points)
Replied 17 June 2023
trnghosh
(sr asst)
(207 Points)
Replied 17 June 2023
TDS is deducted under section 192 as it is salary income.
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