विशेषज्ञ की सलाह चाहिए?हमारे गुरु मदद कर सकते हैं
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Mihir Tanna1124 Answers |Ask - Follow
Tax Expert - Answered on Oct 26, 2026
Asked on - Oct 25, 2026
Hi , I am 63 year old , doing nothing except helping in my son's small business . My only source of income is pocket money being given by my son . From last year I started some investment in equity market . From which I gained STCG Rs 16000/- . Should I have to file ITR and pay 20% STCG ?
Ans: Under Income-Tax Act, an individual is generally required to file an ITR if their total income (before claiming certain exemptions like those under Chapter VI-A or capital gains exemptions) exceeds the maximum amount not chargeable to income-tax.
In your case, even though your STCG is fully absorbed by the basic exemption limit, your gross total income (before considering the adjustment of the basic exemption limit against STCG) is Rs. 16,000. This amount does not exceed your basic exemption limit of Rs. 3,00,000.
Additionally, Income-Tax Rules, specifies other conditions for mandatory filing, such as:
- Total sales, turnover, or gross receipts from business exceeding Rs. 60 lakh.
- Total gross receipts from profession exceeding Rs. 10 lakh.
- Aggregate of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) of Rs. 50,000 or more (for senior citizens).
- Aggregate deposit in one or more savings bank accounts of Rs. 50 lakh or more.
- Deposit of Rs. 1 crore or more in current accounts.
- Foreign travel expenditure of Rs. 2 lakh or more.
- Electricity consumption expenditure of Rs. 1 lakh or more.
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In your case, even though your STCG is fully absorbed by the basic exemption limit, your gross total income (before considering the adjustment of the basic exemption limit against STCG) is Rs. 16,000. This amount does not exceed your basic exemption limit of Rs. 3,00,000.
Additionally, Income-Tax Rules, specifies other conditions for mandatory filing, such as:
- Total sales, turnover, or gross receipts from business exceeding Rs. 60 lakh.
- Total gross receipts from profession exceeding Rs. 10 lakh.
- Aggregate of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) of Rs. 50,000 or more (for senior citizens).
- Aggregate deposit in one or more savings bank accounts of Rs. 50 lakh or more.
- Deposit of Rs. 1 crore or more in current accounts.
- Foreign travel expenditure of Rs. 2 lakh or more.
- Electricity consumption expenditure of Rs. 1 lakh or more.