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Mihir Tanna |1112 Answers |Ask -Follow

Tax Expert - Answered on Jul 28, 2023

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more

Question by San on Jul 28, 2023Hindi

Money

If a person is doing private tuition (freelancing) & also doing share trading then which ITR he has to follow.

Ans: Person having income from tuition is chargeable to tax as Income from business profession. In case of Income from business and profession, ITR 3 is applicable. In case ITR presumptive taxation scheme is opted, ITR 4 is applicable.

Share trading income can be chargeable to tax under the head Income from business or Income from capital gain depending on various factors.In case of income from capital gain, ITR 4 can not be filed and both income is required to be shown in ITR 3.

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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Read Books & Articles: Start with foundational books like "The Intelligent Investor" by Benjamin Graham and "A Random Walk Down Wall Street" by Burton Malkiel.

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i am just passed out class 12th with science bio should i have to learn about financial education and about trading stock market, forex ,investing and from whom i learn about this ? or should i have to focus on my further studies!! if not now when is right time to learn?

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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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