Just a moment...

⚠✕
❮ Top
☎ Help
AI Drafter ✕

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

Step 1 – Issue Identification & Review

The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.

• Review the issues identified by the AI
• Add, edit, remove, or refine issues as required


Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

Try Now →
☰
×

By creating an account you can:

Logo TaxTMI
>
Keyword Search :
AI Tools : New
Ask tax questions in natural language. Powered by AI trained on the TaxTMI legal database. Use AI Tools ➞
Call Us / Help / Feedback✕

Contact Us At :

✉ E-mail: [email protected]

✆ Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
╳
Add to...
You have not created any category. Kindly create one to bookmark this item!
✕
Create New Category
Hide
Title :
Description :

Print Options

+ Post a Query
Post a New Query ✕
Title :
0/200 char
Description :
Max 0 char
Category :
Delete Reply

Are you sure you want to delete your reply beginning with '' ?

Delete Issue

Are you sure you want to delete your Issue titled: '' ?

Discussion Forum

Back

All Issues

Advanced Search ❮
Reset Filters
Search By:
Search by Text :
Press 'Enter' to add multiple search terms
Select Date:
FromTo
Category :
OR
Search by Issue ID:
NOTE: If you have inputs in both the fields, then results will be shown for issueId first.
Issue ID :
PrevPreviousNextNext

intraday trading, ITR4

Guest

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?

Income from intraday trading treated as other source income, affecting how such receipts must be reported for tax. Question: whether isolated, minimal intraday trading by a salaried individual makes them a trader and compels ITR 4 filing. Reply: such intraday transaction receipts are to be treated as other source income under the Income Tax Act, rather than being described as a trading business; no further detail on form selection or effects on long term holdings was provided. (AI Summary)
Income Tax
answers
Sort by
+ Add A New Reply
Hide
Ganeshan Kalyani on Jan 5, 2016
In my view it is your other source of income which is one of the heads of taxable income under income tax act.
+ Add A New Reply
Hide
Recent Issues