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Samkit Maniar |173 Answers |Ask -Follow

Tax Expert - Answered on Jul 12, 2024

CA Samkit Maniar has eight years of experience in income tax, mergers and acquisitions and estate planning.
He has graduated from Mumbai’s N M College of Commerce and Economics and has completed his CA from The Institute of Chartered Accountants of India."... more

Asked by Anonymous - Jul 11, 2024Hindi

Money

I am 73 years old. Retired from private firm. currently trading in stock market. total income below 2.00 lacs and investment is Rs.4.00 lacs in last 5 years. Do I need to file ITR? if yes then Which?

Ans: Considering your income is below exemption limit you may not be required to file income tax return (assuming you are Indian resident). The moment your income exceeds the limit, you will require to file your returns under ITR 2.

Please take advice from your CA before moving ahead.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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I am regular Rediff reader. Sir, 1) I am earning through share trading, my income is up to 5 lakh. Please advise which ITR form I have to file. 2) And if my income is with salary and share trading up to 5 lakh, then which ITR form I have to file.

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Hello Mihir, first of all thanks for your valuable inputs in this column. last year my total income through salary, FD interest & shares was around 10 lacs. I haven't filled ITR even once ( experience of 15 years but salary was quite low so just skipped it). Now this year my total income has exceed 12 lacs & plan to file ITR in coming June, so can i file it only for current year or will have to compulsorily file it for last year/s as well? Thanks again.

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Asked by Anonymous - Mar 08, 2024Hindi

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Hello Vivek, first of all thanks for your valuable inputs in this column. last year my total income through salary, FD interest & shares was around 10 lacs. I haven't filled ITR even once ( experience of 15 years but salary was quite low so just skipped it). Now this year my total income has exceeded 12 lacs & plan to file ITR in coming June, so please advise can i file it only for current year or will have to compulsorily file it for last year/s as well? Thanks again.

Ans: Hello, you can start filing from this year itself which is AY 24-25
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Sir, I had lost my Job during Covid Pandemic in the year 2020 and I had recently got all of my EPFO credited in my account for the last 10 years 6 months.. The EPF was being maintained by the Company's trust. I had asked the respective manager about my EPS(Pension) then he said that they only maintained the EPF amount and the EPS is maintained by the EPFO. Sir Can you tell me how can I access my EPS fund? Do I need any documents or prerequisites from the Company I last worked with or the company which maintained my EPF? Please provide me all the relevant information about my EPS amount and how can I withdraw it.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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