I being new to the whole concept of stock market, did intra-day trading for 2 days with petty sums. My profits and losses are in 2 digits. Does it make me a trader and warrants me to file ITR-4 even if I dont do any trading in the remaining part of the financial year. I am a salaried individual and belong to 30% tax bracket.
Does it have any other implication on my other long term stock holdings?
Salaried individual questions need to file ITR-4 for brief intraday trading; advised it's an income source. An individual new to stock market trading engaged in intraday trading for two days with minor profits and losses, questioning whether they need to file ITR-4 as a trader despite not trading for the rest of the financial year. They are a salaried person in the 30% tax bracket and are concerned about implications on long-term stock holdings. A respondent advised that this trading activity is considered another source of income under the income tax act. (AI Summary)