ITR Form for Senior Citizen earning from Shares

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  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
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