If I have short term capital gains(STCG) of Rs. 6300 from investing in stock market,
then I have to file ITR or not ?
chamarthi venkatesh (Student CA Articleship) (848 Points)
17 March 2018If I have short term capital gains(STCG) of Rs. 6300 from investing in stock market,
then I have to file ITR or not ?
PARESH SHAH
(PARTNER)
(126 Points)
Replied 17 March 2018
RAMAKRISHNAN R
(INCOME TAX OFFICER)
(1736 Points)
Replied 18 March 2018
chamarthi venkatesh
(Student CA Articleship)
(848 Points)
Replied 18 March 2018
Nikhil Kaushik
(Fellow CA)
(85657 Points)
Replied 18 March 2018
| Originally posted by : RAMAKRISHNAN R | ||
 |
how you decided it as stcg? suppose, if it falls under the business head, then if your total turnover in share trading exceeds 1 crore, you need to offer minimum 6% of turnover as your total income from share trading or your sharetrading business should be audited |  |
Even if that is the case, as long as the income is below the exemption limit, the audit wont be required. Similarly, even tax return filing is not required.
Nikhil Kaushik
(Fellow CA)
(85657 Points)
Replied 18 March 2018
| Originally posted by : chamarthi venkatesh | ||
|
Example : Mr. A brought shares in BSE stock exchange in November for 163980 and sold them in March realising a gain of 6300.this is the only income he have.Nov he has to file return or not ? | |
Not required to file the return. In case you decide to file, please use ITR-2..
RAMAKRISHNAN R
(INCOME TAX OFFICER)
(1736 Points)
Replied 18 March 2018
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
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