Comment on Zerodha - your tax aide while you trade

Sumit12 commented on 04 Jul 2015, 10:21 PM

Hi Nithin, I had opened a US based trading account in FY2010 for $1000. But since there was no profit for the trading account (I traded stock options during last five years) and since my taxable income was below Rs. 2,50,000/-, I had not declared my foreign account for tax purposes. But now with Finance Ministers emphasis on declaration of foreign asset, I am confused as to how should I go about declaring the same i.e. Should I use ITR 4 or is there seperate form, which documents should be used to support the declaration, how should the tax be assessed etc.. Kindly help me with the same

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