ITR filing for individual who has zero tax slab

General
1

Hello…

I am new to stock market…so please help me, my income is only from stocks.
Suppose…
1- I have made a profit of 50000/- rs in intraday (Only equity Cash) in a year, do i need to file itr,

2- I have made profit of 50000/- rs from delivery, bought and sold within a year, do i need to file itr while it is short term capital gain…

3- i have made profit of 50000/- rs from delivery,bought and sold after 1 year, do i need to file itr,

i know that i dont need to pay tax in above case because these are under tax slab, but do i need to file

itr-1, itr-2, itr-3, itr-4 if any…please i dont know about taxation…

2

  1. Yes and since it is intraday it is considered as a speculative business, so you will need to use ITR4

  2. Yes, and you can use ITR2 as it is only STCG

  3. If held more than a year, it is Long term capital gain, and there is no tax on the profits.

But it is best to file ITR even if there is no taxes to be paid.

Check this post, has all that you need to know about taxation while trading: http://zerodha.com/z-connect/traders-zone/taxation-for-traders/taxation-simplified

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