I am a senior citizen getting pension, if i do daily trading and make profit,is there any tax to be paid?



I am a senior citizen and getting pension, if i do daily trading in share market and make profit, is there any tax tax to be paid and how to account my transaction. whether i have to file any return in IT department?

I am a senior citizen getting pension, if i do daily trading and make profit,is there any tax to be paid?
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3 Replies to “I am a senior citizen getting pension, if i do daily trading and make profit,is there any tax to be paid?”

  1. As u r coming in the range of 2.5lac so up to this level ur net income is non-taxable, if above 2.5lac than also 1lac tax rebate is provided. if now above it u receive income whether business or pension u ‘ll have to pay tax in accordance. U also have to file IT return as already u r receiving pension. Dealing in Share market u have to keep record of selling n buying of shares for whether u r availing long term or short term.


  2. Any Senior citizen between the age of 60+ to 80 years can earn up to 2.5 lakhs without any tax payment. If the age is 80+, then the tax free limit is 5 lakhs.

    Your income means your pension and any other income (including daily trading in shares).

    Daily trading in shares is called as Day Trading. It is a speculation. You can show the gains (loss or gain) as income from Business or Profession.

    I know about shares and about day trading since many years. As a Senior citizen (68 years), I advise you not to go for day trading. It is a sharp knife. On an average you can never gain in shares day trading. I have seen many persons who lost huge amounts in day trading and lost mental peace. Please stop daily trading. If you are interested, invest in shares and just relax. This is my advise. Remaining left to you.






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