Comment on Tax loss harvesting

Lini commented on 28 Mar 2016, 03:40 PM

Hello Sir 🙂
I never paid income tax so far and never filed a return as the income was always below the limit.(last year you replied some of my tax related queries).
But this year,my income is 6.68Lakhs+.

74k from FD interest
1.27Lakhs from Option Trading
and around 4.5lakhs++ from active futures trading.(and still running)

I deposited 1.5lakhs towards PPF.

My queries,pls do reply-
1)When do we pay taxes for F&O? before 31st March??
2)how do we pay taxes?
3)As I may fall in audit case,do we pay taxes after the audit has done?
4)or is it ok to pay taxes once the audit is done by CA?
5)I did small mistake.I submitted 15G form for my FD’s considering my income wont exceed the tax limit..but this year luckily my trading performance improved.
The 15G rule is broken by me,what to do now?

-Lini

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