Comment on Taxation Simplified
commented on
07 Nov 2013, 03:02 AM
Yes 47,
Once you start trading actively, you are like a businessman no matter what your age or what you do.
Since you have just started trading, the returns for 2013-2014 has to be file by next year september, you have to file them only once the closing of financial year which is 31st march 2014.
Until then there is nothing you have to do, but make sure to keep a tab on all expenses you incur towards the business of trading, it can be shown as a business expense and would bring down your taxable income.
Best of luck,