Comment on Notice under Section 139(9)? - Possible reason

Hi,

I have been into delivery based investing till now and was considering starting intra day trading (equity) also. In fact, I did couple of trades just to have a feel of it (Trade value around INR 2 Lacs with small profit). However, going through this page about the tax issues, I am seriously contemplating about not proceeding further with intra day trading of equities.

Do I still classify myself as Investor if I do not proceed with further day trading (since I already did couple of trades)?

Also, can somebody classify himself as trader in one Financial year and go back to investor (if he has not done any speculative trading) in the next financial year.

Thanks in advance for your response.

Thanks and Regards
Rudra

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