Comment on Taxation for Traders - Introduction
commented on
06 Apr 2015, 04:34 AM
Hi Zerodha team,
I am a proud customer of Zerodha since 2013 and your are doing a great job in updating the backoffice portal! I have the following questions regarding my tax filing. Kindly clarify how I can proceed.
I am working in US since December 2013. Hence my tax filing status is NRI as per 180 days rule. As per Zerodha, below is my profit and turnover details for FY 14-15
INTRADAY/SPECULATIVE PROFIT ₹1,62,079.77
INTRADAY/SPECULATIVE TURNOVER ₹1,62,079.77
SHORT-TERM PROFIT ₹69,912.74
SHORT-TERM TURNOVER ₹57,09,160.23
Question 1:
Do I need to go for audit as profitability is less than 8% of the turn over?
Question 2:
I am hearing that, being NRI, I need to pay flat 15% short term capital gain and it can not be taxed as per my income tax slab. Is that true?
Question 3:
All my trading is in equity space and I did not do any futures and options trading. Do I need to file ITR2?
Thanks,
Sriram.