• Capital gain tax

dear sir/madam
I do trade(stock) on regular basis. my salary is not taxable.do I need to file my return as I do earn intraday as well as short term capital gain by trading.pls guide
Asked 4 years ago in Capital Gains Tax from Kolkata, West Bengal

Yes you need to file your return disclosing the details of your trading basis settlement statement received from your agent.

Swapnil Patil
CA, Navi Mumbai
30 Answers
4 Consultations

4.6 on 5.0

Dear Sir,

As stated by you, your salary is not taxable. So assuming the fact that you are a salaried person and you earn a Salary below Taxable Limit. You should also consider the amount of profits made by you in your trading transactions.

In case the cumulative amount of your Short Term Capital Gain and Salary crosses the basic exemption Limit liable to Tax, then it is mandatory for you to file your return.

On the other hand it is better if you start filing your returns as that will help you in carrying forward your Short Term Losses if any at any point of time and adjust them against your future Capital Gains.


CA Rohit R Sharma


Rohit R Sharma
CA, Mumbai
2104 Answers
92 Consultations

5.0 on 5.0

You need to file your income tax return if your income exceeds taxable limits. The income is from all sources including your salary and intraday as well as short term capital gains.

As you are dealing in intraday transactions and short term investments, it is possible that the income from such transactions is considered under the head: "Income from Business or profession". If there is a loss under this head, you will be able to carry forward such losses and set off against your income under this in the future, subject to fulfillment of conditions laid down in the Income Tax Act. However,you will be able to claim such carry forward of loss only and only if you file your return of loss on or before the due date for the filing of return. Hence, it will be in your own interest to file return, specifically when there is loss, as losses in the stock market are very common.

B Vijaya Kumar
CA, Hyderabad
891 Answers
67 Consultations

5.0 on 5.0

In case your total income (salary + intraday gain + short term capital gain) is more than the minimum taxable limit. Then, you need to file the tax return.


Ankit Jain


Ankit Jain
CA, New Delhi
32 Answers
3 Consultations

4.9 on 5.0

As per the provisions of Income Tax Act it is mandatory to file the return of income, if the total income exceeds maximum ceiling limit.For the financial year 2014-2015 maximum ceiling limit is Rs.2,50,000/-. Hence if the total income from all the above sources mentioned by you exceeds maximum ceiling imit, then it is mandatory to file the return.

However it is always advisable to file the return even if it is below taxable limit.

Shyam Sunder Modani
CA, Hyderabad
1408 Answers
110 Consultations

5.0 on 5.0

Kindly consult a chartered accountant. it is important to file returns in your case. Remember that your trading details, if it has exceeded 2 lac rupee in a year, has already reached the tax department on account of AIR requirements. Now or later, you are likely to receive a notice from the department.

Shashank Surana
CA, Chennai
60 Answers
4 Consultations

4.3 on 5.0

Generally a person is not required to file the return if his income is less than threshold limit . If all the income clubbed together exceeds the threshold limit , it is a statutorily requirement . However even if your total income is less than the above threshold limit , the person can file the voluntary ITR.

Prakash Sinha
CA, New Delhi Area, India
120 Answers
17 Consultations

4.9 on 5.0

Yes you have to file your income tax return. As your salary is not taxable but after this profit your gross total income may be taxable so please file your income tax return considering all income from all sources.

Kavit Dilip Gadhia
CA, Mumbai
35 Answers

4.6 on 5.0

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