Comment on Zerodha - your tax aide while you trade

Prasanta Mazumder commented on 06 Aug 2015, 08:14 PM

Hello,

Could you please clarify below queries:

1. If I do stock(equity share) trading as a business, what business type needs to be declare as “Nature of Business” in ITR4?
2. In ITR2 and ITR4 Java utility forms downloaded from ‘incometaxindiaefiling.gov.in’, if I show salary as 1L & short term capital gain as 50000, it is showing I need to pay tax for 50000 @15% whereas it should be zero as my total income is 1.5L (below 2.5L). Is there some issue with the forms? Can you please suggest any other way to file ITR similar to java utility forms?
3. I have few F&O trading and day trading in equity in last FY & also some short term trading where frequency is not so high (average 7-8 trading per month), can I show F&O and day trading as business income and short term trading as short term capital gain in ITR4?

Thanks,
Prasanta

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