Tax

[Rehab]

Rehabji,

In yr post, you sound more like a Criminal lawyer , cross examining a Witness & where the lawyer thinks that it is his prerogative to question anything & everything.

If you think so, you are sadly mistaken.

Nor if you assume that you are from Scotland yard, here again you are misguided & will only project a sorry fig..

From your post, it is obvious that you are neither competent nor knowledgeable to answer or question in this thread .

Still, coming back to your post, till 4 yrs back, whoever had PAN no were asked to file IT return immaterial of the fact that whether their Gross Income was below the Exempted limit or not.

But in the last three years, it was specifically clarified by IT dept that if one's income was less than exempted limit, they need not file IT.

So, many did not file.

But, suddenly now, whoever had discontinued, are sent notices to clarify the reason.
I understand, scores of notices were sent as a routine.

same was the case with those who are trading whether Loss or Gain.

Dont think every one is Vijay malya with whom i have the grouse of Not paying the employee's salary.

And what gave you the impression that i had evaded the Tax ( as evident from yr sarcastic post ).
According to you, whoever asks a tax clarification/ advise is a person evading Tax.
What an Ignorance.

A piece of advise.
Dont poke yr nose unless called for esp in personal matter & take shelter that it a public forum.

Certain decency is expected from every member before posting.
Read the rules.

And last, neither you are competent nor solicited to answer my posts.

I have never posted such a rough answer in my 10yrs in this Forum & you r the first person . My instinct tells me that yr intentions were not Good.
To change or Not, yr privilege.

I asked a simple question Rangarajan Bhai and u derived a different meaning out of it...

Yes,I'm neither competent nor solicited... :rofl: :lol:
But,as your are 10yrs older in this forum and still earning 2 lakhs yearly and getting a notice from IT Dept.....wooooo...I didnt get that fact.So being what you called me abv,I asked the question.

Ranga,Itna ghussa kyu bhai? Trading pe dhyaan de..varna 1-2lakhs ki range me hi rahega..

abt Traderji Rule-well,Ranga insulted me here..Ranga should be banned.

 

[Rehab]

We Indians have this shitty prob all the time yaar...Apne mann se kuchh bhi matlab nilak lete hai..

I have seen many trader trading with 1-5 lots from last 10yrs and making 1-2lakhs only..aur baate badi badi.

Trading pe dhyaan dene ka to faltu baate hamesha chalti rehti hai..

Online forum pe kisi ko bhi gaali de do..apni akad dikha do..bass ho gaya.

looser will always be a looser,doesnt matter IF ST Sir teaches him or Saint teaches him..

 

[canikhil]

Nikhil Sir,
I never paid income tax so far and never filed a return as the income was always below the limit.(last year you replied some of my tax related queries).
But this year,my income is 6.68Lakhs+.

74k from FD interest
1.27Lakhs from Option Trading
and around 4.5lakhs++ from active futures trading.(and still running)

I deposited 1.5lakhs towards PPF.

My queries,pls do reply-
1)When do we pay taxes for F&O? before 31st March??
2)how do we pay taxes?
3)As I may fall in audit case,do we pay taxes after the audit has done?
4)or is it ok to pay taxes once the audit is done by CA?
5)I did small mistake.I submitted 15G form for my FD's considering my income wont exceed the tax limit..but this year luckily my trading performance improved.
The 15G rule is broken by me,what to do now?

- you can ignore the mistake on 15G. not a fatal error

- you can pay taxes till the time of filing of return. However, earlier the better. Why pay extra interest?

- better pay the tax now. Let the audit happen at its own time.

- In case you need assistance for audit, let me know.

 

[fish]

Rehabji,

In yr post, you sound more like a Criminal lawyer , cross examining a Witness & where the lawyer thinks that it is his prerogative to question anything & everything.

If you think so, you are sadly mistaken.

Nor if you assume that you are from Scotland yard, here again you are misguided & will only project a sorry fig..

From your post, it is obvious that you are neither competent nor knowledgeable to answer or question in this thread .

Still, coming back to your post, till 4 yrs back, whoever had PAN no were asked to file IT return immaterial of the fact that whether their Gross Income was below the Exempted limit or not.

But in the last three years, it was specifically clarified by IT dept that if one's income was less than exempted limit, they need not file IT.

So, many did not file.

But, suddenly now, whoever had discontinued, are sent notices to clarify the reason.
I understand, scores of notices were sent as a routine.

same was the case with those who are trading whether Loss or Gain.

Dont think every one is Vijay malya with whom i have the grouse of Not paying the employee's salary.

And what gave you the impression that i had evaded the Tax ( as evident from yr sarcastic post ).
According to you, whoever asks a tax clarification/ advise is a person evading Tax.
What an Ignorance.

A piece of advise.
Dont poke yr nose unless called for esp in personal matter & take shelter that it a public forum.

Certain decency is expected from every member before posting.
Read the rules.

And last, neither you are competent nor solicited to answer my posts.

I have never posted such a rough answer in my 10yrs in this Forum & you r the first person . My instinct tells me that yr intentions were not Good.
To change or Not, yr privilege.

Rangarajan,the question asked by Rehab was very simple.I don't see any criminal lawyer stuff or sarcasm like something as you said.

Hope,being a senior trader/member you atleast dont makeout something out of nothing.

 

[TraderRavi]

Nikhil Sir,
I never paid income tax so far and never filed a return as the income was always below the limit.(last year you replied some of my tax related queries).
But this year,my income is 6.68Lakhs+.

74k from FD interest
1.27Lakhs from Option Trading
and around 4.5lakhs++ from active futures trading.(and still running)

I deposited 1.5lakhs towards PPF.

My queries,pls do reply-
1)When do we pay taxes for F&O? before 31st March??
2)how do we pay taxes?
3)As I may fall in audit case,do we pay taxes after the audit has done?
4)or is it ok to pay taxes once the audit is done by CA?
5)I did small mistake.I submitted 15G form for my FD's considering my income wont exceed the tax limit..but this year luckily my trading performance improved.
The 15G rule is broken by me,what to do now?

Great performance sir, you are a Big fish now :thumb: