Comment on Taxation for Traders - Introduction

imback commented on 09 Nov 2015, 05:33 PM


I am a housewife and I’ve received an intimation for filling IT return for AY 2014-15.

I have no income as such though I had 2 FDs during the year for which income tax was already paid by bank itself before giving me interest for that year.

I also have a loss trading FnO. Now my turn over is less than 1 crore and loss is around 1 lakh.
Queries are :

1. Which form should I fill in for fillling IT return ? ITR-1 or ITR-4 or ITR-4s ?
2. My total income is less than 1 lac, should i really file ITR ?
3. Is audit required ?

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