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| Discuss Which IncomeTax form Applicable at the Taxation Matters within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi friends A person has X amount of money in bank and is only trading ... |
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#1
19th September 2007, 07:18 PM
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Which IncomeTax form Applicable
Hi friends
A person has X amount of money in bank and is only trading in Derivatives Futures contract practically on a daily basis or holding it for few days. And this is the only source of income generation. Now for a person like this, which Income Tax form would be applicabel to be filled. I believe now there are only four forms. i.e. ITR-1, ITR-2, ITR-3 and ITR-4. Which ITR form would be applicable to this person. Knowledgable firends, please reply at earliest. Thanks Tarmac 
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#2
12th December 2007, 04:43 AM
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Re: Which IncomeTax form Applicable
i think itr4 as F&O trading is consider as business income.
and i also read from various threads of our foroum that if turnover is more than 40 laks u need tax audit(don't know much more)
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#3
22nd December 2007, 11:01 PM
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Re: Which IncomeTax form Applicable
I dont have an answer,but would like to add a question of my own.Which form would be applicable if some one has a salary income as well as trades in secondary market and future and options?
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