I am a medical professional and want to invest in equities through SIP mode with long term horizon. What are the laws with regards to declaration of investment made per annum while filing ITR. Is there an upper limit up to which one need not to declare the amount and number of shares purchased in ITR form OR every single share and money spent needs to declared. In other words please tell me what is the upper limit (of money) that I can invest per year without the hassles of declaration.
If you total income trading+salary is less than 2.5 lakhs, you need not pay tax. Otherwise trading income you need to add to your regular salary income and pay tax as per IT departments Tax Slab, this year.