Dear Shravan
In a query above
"Is it mandatory for a trader to file IT returns irrespective of profit/loss made?"
You replied yes.
I just want to know,
Is it mandatory even for small time FNO trader say with a small turnover of 4-5 lakhs per year and with no other income
If no, then upto what limit it is not mandatory.
I am raising this query, as upto 25 lakhs of TO, even 8% presumptive tax comes out to be 200000, which is the max limit for tax exemption and not necessary for filing tax return.
Thanks
In a query above
"Is it mandatory for a trader to file IT returns irrespective of profit/loss made?"
You replied yes.
I just want to know,
Is it mandatory even for small time FNO trader say with a small turnover of 4-5 lakhs per year and with no other income
If no, then upto what limit it is not mandatory.
I am raising this query, as upto 25 lakhs of TO, even 8% presumptive tax comes out to be 200000, which is the max limit for tax exemption and not necessary for filing tax return.
Thanks