House wife income less than 5 lack in a FY through stock market trading

Return will have to be filed as income is above 2.5 lacs. Also, rebate will be available on tax till income is below 5 lacs.

In your case, no tax till Rs.5 lacs. Trading income is not taxable separately. 

Hello,

Income from stock market trading is generally taxable for all kind of assesses. What needs to be seen here is whether it needs to be disclosed under capital gains head or as business income which depends on certain factors. However in both the cases, you can claim slab rate exemption (to the extent your other income falls short of exemption threshold) as well as tax rebate (if net income remains below 5 lac).

Second, in case you are required to show your trading income under capital gains head then after adjusting a portion of it against minimum exemption, the remaining income will be taxed at special rates applicable for such transactions instead of slab rates which means you may be in net liability position even after availing tax rebate.

For detailed discussion and tax planning, I would advice to take a telephonic consultation in this regard.

Best Regards, 

Hi

Yes she need to file ITR but there will be no tax liability if total income remains upto 5 lakhs.

Please have a phone call for details discussion.

Dear Sir,

Hope you are doing well !!

Trading income is also part of total income so it is not taxable separately.

However, she needs to file ITR to show the same but there will be no tax liabilities on annual income upto Rs 5 lakh.

Hi,

No, if the overall income is less than 5 lacs, you will not be required to pay tax as you will get the rebate u/s 87A.

It is not taxable although but income tax return needs to be filed.

Read more at: https://www.taxontips.com/do-women-doing-small-business-from-their-home-should-file-income-tax-return-how-to-file-income-tax-return-for-home-based-business/

It depends what kind of trading it is.

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Thank you