Comment on Classifying Your Market Activity

Nithin Kamath commented on 10 Aug 2015, 03:59 AM

1. Explained in the module Tushar, it depends on what you are trading. If you are doing only equity delivery trades than ITR2, otherwise ITR4.
2. 7lks is not your income, it is a gift and hence no tax liability.
3. As I said, if you have done intraday equity or F&O trading, it has to be shown as a business using ITR4. Do read up all the chapters, all details you know already there.

Also since your net income for the year is negative for the year, you no mandatory to file returns. But it is preferable.

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