Comment on Taxation for Traders - Introduction
commented on
18 Apr 2015, 09:15 PM
Lets say for year2014 i had income in F&O and also in stocks (i held these stocks for more than 1 year).
Now if i use ITR4 I can’t claim LTCG. So that means my long term income will be taxed?
Any way to get out of this?
Secondly, If i fill ITR4 in 2014 then can i use ITR2 in year 2015 (if there is no income in F&O)?
Because income tax authorites will consider me a trader even if i earn income in stocks in long term, once i’ve declared that in year 2014?
Please correct if I’m wrong.