Comment on Taxation for Traders - Introduction
commented on
30 Oct 2014, 06:17 PM
If you want to be 100% compliant, yes you will have to declare these intraday trades as well, but you could choose to ignore as the they are just 5 days of trading. You need file income tax in India if you are earning any income, rental, trading, bank interest, or anything else. If there is no income, then no need to file. When you file for your returns, make sure to declare your stock holdings. You don’t have to pay any taxes if you sell your long term holdings for a profit.