Sorry if anyone has already replied to this query... Haven't really searched..
I started trading from aug 2018.... Mostly it has been loss... So do i have to show the total turnover in the ITR form etc and pay tax on that?
Also i was resident till may 2018.. so i have Indian salary only for march and April 2018... After that I'm nri (although i was trading with resident account)...
I haven't closed the resident trading account although i longer trade in it..
Will help if anyone can advise...
Thanks in advance...
Greg.
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and you think that, someone should reply your one liner, without any detail.
"I started trading from aug 2018"
and you think just writing a word trading is sufficient for a reply
trading, but trading what,
- equity
- derivatives,
if derivatives, then what
futures
or
options
if options, then what
buying first
or
writing first
as calculation for turnover will be different for all these
and now you are in loss, then more info is required, like total turnover, your other income from other sources (beside your Apr 18 salary) etc. (if any)
Further, another point, you are now an NRI.
BTW, what one should conclude, from this sentence
"I haven't closed the resident trading account
although i longer trade in it.."
perhaps missed a 'no' before longer