ITR need to filed? if only stcg gain in year is 4000Rs earning. around & NO OTHER INCOME

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Deal Newbie
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Tell please

28 Comments  |  
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Deal Lieutenant
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I didn’t file ITR till yet though I M 41 year old. ( because I have no income) 🤣😅😂

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Blogger
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I don’t remember clearly but someone had created a post here that they got notice for not filing returns for trading. They didn’t make any money I guess but IT had sent them notice seeking something because of the huge amount of trading (probably in F&O).

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rsai01 wrote:

I don’t remember clearly but someone had created a post here that they got notice for not filing returns for trading. They didn’t make any money I guess but IT had sent them notice seeking something because of the huge amount of trading (probably in F&O).

please tell in my case… i don’t know about this much

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Deal Newbie
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s_u_r wrote:

I didn’t file ITR till yet though I M 41 year old. ( because I have no income) 🤣😅😂

did u trade in shares?

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Deal Cadet
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What’s the harm in filing your returns?

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Deal Newbie
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myfungang829 wrote:

What’s the harm in filing your returns?

Gain 4000Rs
ITR filing fees 6000Rs
2000Rs loss 😂

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Deal Cadet
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Needed to be filled if total transaction as amount Exceeds 10 lakh in a financial year

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Deal Newbie
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SuperNatural wrote:

Needed to be filled if total transaction as amount Exceeds 10 lakh in a financial year

I think it’s total income of 5 lks above.

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suspended
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SuperNatural wrote:

Needed to be filled if total transaction as amount Exceeds 10 lakh in a financial year

Is it 10 LPA or 3 LPA???

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Deal Newbie
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SuperNatural wrote:

Needed to be filled if total transaction as amount Exceeds 10 lakh in a financial year

Case1- Invested in shares 7 lakh & STCG 45000
Case2- Invested 12 lakh & STCG 80000
Case3- Invested 4 lakh & STCG 20000
In which cases need not to be filed?

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Deal Cadet
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BabuBhaiii wrote:

Is it 10 LPA or 3 LPA???

I mentioned that if total transaction amount is greater than 10 lakh in Equity and Mutual fund….Even your profit is 0 , you must have to file ITR

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Deal Subedar
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No, you don’t need to file an ITR since your total income is less than the basic exemption limit

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Deal Cadet
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gabarohtash432387 wrote:

Gain 4000Rs
ITR filing fees 6000Rs
2000Rs loss 😂

I guess you can Google and file your returns on your own…. Plus there are many sites which assist in filing returns for nominal amount….

Why to risk it? If by chance your pan comes in the reports (assuming your short term gains is from shares) you will have to pay a CA more later

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Deal Newbie
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gabarohtash432387 wrote:

Case1- Invested in shares 7 lakh & STCG 45000
Case2- Invested 12 lakh & STCG 80000
Case3- Invested 4 lakh & STCG 20000
In which cases need not to be filed?

please tell

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Deal Subedar
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gabarohtash432387 wrote:

Gain 4000Rs
ITR filing fees 6000Rs
2000Rs loss 😂

DIY. It isn’t rocket science, but definitely complicated though. Cross-check your 26AS to ensure you aren’t missing anything else

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Deal Subedar
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gabarohtash432387 wrote:

please tell

Include another condition, if ITR is filed earlier. If so, do it

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Deal Newbie
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andromeda wrote:

Include another condition, if ITR is filed earlier. If so, do it

This is year1….
not filed earlier

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Deal Subedar
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gabarohtash432387 wrote:

This is year1….
not filed earlier

And last question (likely) any huge money rotations or card transactions? Verify your 26AS to ensure you are on safe side. I would suggest to file even if it’s small income. Try DIY, it will be a stepping stone for your future filings

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Deal Newbie
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andromeda wrote:

And last question (likely) any huge money rotations or card transactions? Verify your 26AS to ensure you are on safe side. I would suggest to file even if it’s small income. Try DIY, it will be a stepping stone for your future filings

Invested in shares PY 50000Rs
Other Debit card transaction at other places around 60000Rs

PS. NO SOURCE OF INCOME

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Entertainer
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Bakre ki amma kab tak khair manayegu.. sad toungueout

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Deal Cadet
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gabarohtash432387 wrote:

Gain 4000Rs
ITR filing fees 6000Rs
2000Rs loss 😂

Use some time off DD and file it online for free (without some consultant). It’s simple and easy.
Irrespective of zero or less income in a particular year 1 should file ITR every year..
Apart from STCG I am sure you will have some interest from bank to be shown

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Deal Cadet
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Try cleartax, it’s free for diy users/self filling upto 10 fillings. Its easy and based on the inputs picks the relevant it form on its own and files it return

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Deal Cadet
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ITR need to be filed as brokerage firms need that to trade in F&O. As it is linked totally with pan & aadhar , all record even if its minor comes under scanner.

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Deal Lieutenant
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gabarohtash432387 wrote:

did u trade in shares?

मेरी income 250000 थी 2 साल pehale(-जब मैं job पर था और ये income टैक्स के दायरे मैं नहीं आती) पर अब वो भी नहीं है मैं बेरोजगार हूं. 😢😩😭

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Deal Cadet
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No need. Enjoy.

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Deal Newbie
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billubakra wrote:

No need. Enjoy.

Till how much gain … need not file

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Deal Cadet
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gabarohtash432387 wrote:

Till how much gain … need not file

Till you are eligible to pay tax. Look there will be people who will tell you that you “might” get a notice, they are kinda right. It’s all automated. You can get a notice for a capital gain of even 1k also. But it’s okay it can be tackled down by filing a return. IT guys will come after you if you have gains of 10lakh+ for many years and no itr was filed. In this scenario just a normal fine needs to go to the treasury. If you start filing return now then you will have to file every year. Apna dekh bhai jaise aapko theek lage. You can ignore this year.

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Deal Cadet
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Do you need to file ITR for ‘pakoda’ shop?
No

But, should you file it for STCG gain?
Yes

Are there any charges?
No, it’s simple.

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