Home > Money > Question
Need Expert Advice?Our Gurus Can Help
Mihir

Mihir Tanna  |1018 Answers  |Ask -

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
San Question by San on Jul 28, 2023Hindi
Listen
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.
Money

You may like to see similar questions and answers below

Samraat

Samraat Jadhav  |2215 Answers  |Ask -

Stock Market Expert - Answered on Feb 07, 2025

Asked by Anonymous - Jan 23, 2025Hindi
Listen
Money
I want to become professional in stock market
Ans: Becoming a professional in the stock market requires a combination of education, experience, and discipline. Here are some steps to guide you on this path:

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

Take Online Courses: Websites like Coursera, Udemy, and Khan Academy offer courses on investing and financial markets.

2. Get a Formal Education
Pursue a Degree: A bachelor's degree in finance, economics, or business can provide you with a strong foundation. NISM has one.

Certifications: Consider obtaining certifications such as Chartered Financial Analyst (CFA) or Certified Financial Planner (CFP).

3. Gain Practical Experience
Paper Trading: Use virtual trading platforms to practice without risking real money.

Internships & Jobs: Work for brokerage firms, investment banks, or financial advisory firms to gain hands-on experience.

4. Develop Analytical Skills
Understand Financial Statements: Learn to read and analyze balance sheets, income statements, and cash flow statements.

Stay Updated: Follow financial news and analysis from reputable sources like Rediffmoney, CNBC, and financial newspapers.

5. Create a Strategy
Define Your Goals: Determine whether you're interested in short-term trading, long-term investing, or a mix of both.

Develop a Plan: Based on your goals, create a trading or investing plan. Stick to your strategy and avoid emotional decisions.

6. Network
Join Groups & Forums: Connect with other investors and professionals through online forums and local investment groups.

Attend Conferences: Participate in financial and investment conferences to learn from experts and network with peers.

7. Start Investing
Open a Brokerage Account: Choose a reputable brokerage to start trading and investing with real money.

Diversify Your Portfolio: Spread your investments across different asset classes to minimize risk.

8. Continuous Learning
Stay Educated: The financial markets are constantly evolving. Continue learning and adapting to new trends and technologies.

Seek Mentorship: Find a mentor who is an experienced investor or trader to guide you through your journey.

..Read more

Latest Questions
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.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x