![]() ![]() As we now know this activity falls under “Non-speculative Business Income”. Now, what if you have an income source besides your salary?įor example for the given year assume besides drawing a salary, you also made a profit by actively trading delivery based equity trading. This is usually called ‘ Tax Deducted at Source (TDS)’. Paying Income tax – If you are employed and draw a salary you very clearly know that your employer on your behalf deducts tax (based on your tax slab) and pays the income tax on your behalf. Many are of the opinion that if they pay income tax the act of filing income tax is not really necessary. I have noticed from my interactions with many that they are confused between the two actions i.e ‘paying income tax’ and ‘filing income tax’. Find below a brief explanation of everything important on ITR that you need to know as an investor/trader. ![]() The last step of taxation is filing your Income tax returns (ITR), and this can be done using ITR forms. ![]()
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