ITR Form for Senior Citizen earning from Shares

Share
Share This Thread
  1. Saai Sekar

    Saai Sekar New Member

    Dear Sir,

    A friend of mine is retired,from a private company. He is not getting any benefits post retirement. He is doing stock and shares.
    for the a.y. 2016-2017
    His Short term profit is Rs 85,000 and that of long term is 1,20,000.

    Does he need to file IT return. Or can leave it.

    What are the requirements for filing IT returns,for stock Market investments. Pl clarify in detail. Many thanks.
     
  2. Piyush Chawla

    Piyush Chawla Active Member

    As the total income earned is less than the minimum amount chargeable to tax, therefore filing ITR is not mandatory in this case.

    It is optional and upto the person to decide if he wants to file or not
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Which Income Tax Form is applicable for Senior Citizens? Income Tax Mar 10, 2016
ITR Form for Senior Citizens for Rent & Interest Income Income Tax Aug 28, 2015
ITR Form for Senior Citizen working as Consultant Income Tax Aug 20, 2015
Which ITR Form is applicable for Senior Citizens? Income Tax Jul 13, 2015
What is Form 26AS (How does it work filling IT return) Income Tax Oct 11, 2018