Comment on Taxation for Traders - Introduction

P. Manmohan commented on 14 Nov 2016, 10:42 AM

I work as a consultant and receives Rs. 9 lakh per annum. I do delivery based share trading for which I have Rs. 13 lakhs in the bank account of HDFC. I use their platform for trading. The volume of trading crossed Rs 5 crore in a year. I made only losses.

1. What ITR form I need to use
2. I want to show my loss / profit from share trading under Capital gains/loss. Is it possible.
3. Do I need to carry out TAX audit.

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