Trading as my profession

#1
Currently i am working in a pvt company. In the near future, i want to leave the job and would like to make trading as my profession. (To be more specific- Option trading). What are the things i need to do for comply with legal norms.
For example, payment of income tax.
Whether trading will be considered as self employment or business etc.,. What are the legal documents to be submitted for income tax payment.

Since most of you are professional traders, i need your advice, opinions on day-to-day life of traders.
 

mmca2006

Active Member
#2
Currently i am working in a pvt company. In the near future, i want to leave the job and would like to make trading as my profession. (To be more specific- Option trading). What are the things i need to do for comply with legal norms.
For example, payment of income tax.
Whether trading will be considered as self employment or business etc.,. What are the legal documents to be submitted for income tax payment.

Since most of you are professional traders, i need your advice, opinions on day-to-day life of traders.
Regarding Income tax , you have to file only ITR4 depending on your Gross total income from such trading activity assuming that you do not have any other business.:)