Employemnt / Work Experience related question for Traders

#1
If after completing the graduation, someone has spent the last 5 years in Stock Market as a retail trader and barely managing to earn little money "not enough for Income Tax filling etc.", therefor he has never filed an ITR. Who occasionally took financial help from the family and who does not have any valid business / company etc. registered in his name.


What would such a trader write in the following sections of Passport and Visa Forms etc. -


1. Employment Type - The options for the answer are -
Not Employed
Others
Private
Self Employed


2. EMPLOYMENT - Give details of your employment for the past 10 years, including if you have held any government positions (such as civil servant, judge, police officer, mayor, Member of Parliament, hospital administrator.)
Answering these questions is very easy for someone who is doing a normal job or business, but for struggling retail traders this is HUGELY EMBARRASSING :mad:

Please provide some guidance in this regard. I am pretty sure that few other traders would have also faced similar situation in their life at some point of time, before they finally became successful / profitable traders.

Thanks for any comments. :)
 
#2
If after completing the graduation, someone has spent the last 5 years in Stock Market as a retail trader and barely managing to earn little money "not enough for Income Tax filling etc.", therefor he has never filed an ITR. Who occasionally took financial help from the family and who does not have any valid business / company etc. registered in his name.


What would such a trader write in the following sections of Passport and Visa Forms etc. -




Answering these questions is very easy for someone who is doing a normal job or business, but for struggling retail traders this is HUGELY EMBARRASSING :mad:

Please provide some guidance in this regard. I am pretty sure that few other traders would have also faced similar situation in their life at some point of time, before they finally became successful / profitable traders.

Thanks for any comments. :)
Proudly say that you are self employed as a Professional Equity/Derivatives trader.

Smart_trade
 
#3
Thanks a lot for your reply Smart_trade :clap:

So, it is confirmed that I should write Self Employed in that section. Hopefully they will not ask for various documents to prove it "as I do not have anything else other then my contract notes to show - which does not paints a rosy picture of my ability as a trader" :p

The reason why I din't file for ITR in the last few years is that I never made enough money on an annual basis, that would have required me to file for the ITR. And I din't went into any other kind of jobs etc. as well.

I am applying for Canada Tourist Visa with my family. My father and mother are also going along and they both have enough property and bank balance etc. in their names. So the tourist visa will not be a problem for them. I am bothered about my own visa as I have not got any property etc. in my name and I have no proof of business income, ITR etc. as well.

Although the visa agent was saying that since I am going along with my family, so their property documents will be sufficient and I do not need to show any property in my name. Moreover my cousin "who is settled in Canada since long" is sending us the sponsorship letter as well.

My father has given me 5 Lakh cash so that my bank balance does not looks empty. :lol:

Please guide if I need to take any points into consideration or I simply state in my application that I am self employed and attach my bank passbook copy with the application.

Thanks for any help. :)
 
Last edited:

mastermind007

Well-Known Member
#4
Thanks a lot for your reply Smart_trade :clap:

So, it is confirmed that I should write Self Employed in that section. Hopefully they will not ask for various documents to prove it "as I do not have anything else other then my contract notes to show - which does not paints a rosy picture of my ability as a trader" :p

The reason why I din't file for ITR in the last few years is that I never made enough money on an annual basis, that would have required me to file for the ITR. And I din't went into any other kind of jobs etc. as well.

I am applying for Canada Tourist Visa with my family. My father and mother are also going along and they both have enough property and bank balance etc. in their names. So the tourist visa will not be a problem for them. I am bothered about my own visa as I have not got any property etc. in my name and I have no proof of business income, ITR etc. as well.

Although the visa agent was saying that since I am going along with my family, so their property documents will be sufficient and I do not need to show any property in my name. Moreover my cousin "who is settled in Canada since long" is sending us the sponsorship letter as well.

My father has given me 5 Lakh cash so that my bank balance does not looks empty. :lol:

Please guide if I need to take any points into consideration or I simply state in my application that I am self employed and attach my bank passbook copy with the application.

Thanks for any help. :)
Put yourself as Student Trader!!