Comment on Classifying Your Market Activity

Sibin commented on 06 Aug 2016, 05:17 PM

Hi Nithin,

I am working in a software company and have a salary 6 LPA as CTC and paid tax of Rs 13000 for FY-2015-16. I have opened Demat & trading account in Sept 2015. My primary aim is to invest for long term. But I have done some short term investments.

As per EQ tax P&L breakdown – FY-15/16 of Q backend, for me there is:-

Short-Term Turnover = Rs 11,544
Short Term Profit = Rs 379

No of total Short term trades = 8

Total Charges = 97.85
DP Charges = Rs -114.8

My queries are:-
1. Do I need to pay any tax for this?
2. Is an auditing required in my case?
3. Which ITR form I have to use for e-filing?
4. My company has filed ITR-1 already for me but not e-verified yet. If in case ITR-1 is not the right one, then can I re-file it?

Please help me. Thanks in advance.

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