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

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

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).

What’s the harm in filing your returns?

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

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

Bakre ki amma kab tak khair manayegu..

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

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.

No need. Enjoy.

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.

STCG tax is 15% and I think no matter what your income is. Please correct me I am wrong.

now a days it’s all automated and all brokerage firms send automated reports of transactions to the I.T. Dept. one of my friend didn’t declared the stock returns and he too had to pay once he got notice. I would advise to declare it even if it’s small amount as I.T. can reopen assessments even after 3 years (reduced from 7 this year). Also as we get readymade P&L tax sheets from brokerages like Zerodha one just has to upload it in cleartax.

Note: In this year Budget, FM had said that capital gains tax and bank interest would be pre-filled, that’s enough hint that I.T. has all the data and given the super bumper returns the stock market has provided, they will vigorously pursue capital gains tax be it short term or long term

It’s Better to file zero returns if you have PAN card with no returns as it will help with your financial condition and during loans