How to file income tax return, which form is suitable for me, my income detail is below, I am from india?

Answers:1   |   LastUpdateAt:2012-09-23 13:16:02  

Question
Brigham
Asked at 2012-09-12 07:27:05
My father gives me Rs 1,50,000 , other income in trade - R 5000 , savings account interest - 500, MedlinePlus MedlinePlus all activities are carried out in April 2007 finencial to Martch 2008
MedlinePlus I did not fill out the form so far , what do I do ? MedlinePlus MedlinePlus My father gave me this money for my studies , but I would invest in the stock market . low income is the money that is suitable for a return file . MedlinePlus MedlinePlus I am from India . thank u
Answer1tortoiseAnswered at 2012-09-23 13:16:02
If trade income is speculative trading or derivatives , then you can use the form ITR 4. MedlinePlus MedlinePlus Note that as your income is much less than the threshold limit for say 2007-2008. Rs. 1,10,000 , there is no legal obligation to file a tax return.
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