E filing of tax

Dear Sir,

How to I file the tax online? If I have filled form 15G for exemption of tax on my FDs do I have to submit any document to IT dept.Also, I do online trading, what would be the procedure to calling the tax for capital gains.

Many Thanks, Jac

asked Sep 06 '11 at 14:20 by Jac 111


You can read more about income tax filing here: File Income Tax Return Form Online

Form 15G has to be deposited to bank to avoid TDS deduction. No document needs to submitted along with return to IT department.

For online trading income, it will come under short/ long term capital gains, or income from speculation or income from business on basis of your transaction types.

If you are taking delivery of stocks and paying STT on transaction it will come under short/long term gains. If stocks have been kept for a year, no income tax will be payable as per long term gains rule. Else 15% income tax will be payable on short term gains.

Intra-day trading will be treated as income from speculation and taxed accordingly.

If you are a heavy trader, it will become income from business and you will have to file ITR-4.

answered Sep 06 '11 at 17:40 by pankaj 5.2k320

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Asked: Sep 06 '11 at 14:20

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Last updated: Sep 06 '11 at 17:40