Legal Question in Banking Law in India

Re: Banking & tax

If you do not have any other income except Rs.1700/- during the financial year 2007-08, you may not be liable for any tax; still since you have a PAN number, you may file your income tax return with "NIL" tax liability.

Re: Banking & tax

you can contact a tax lawyer

Re: Banking & tax

Since you are trading i shares you are liable to capital gain tax under the Income Tax Act. However, you can get benefit of tax if you have paid STT. I suggest you to visit a tax consultant with the documents

Re: Banking & tax

Incometax depends upon your total annual income from various sources, like salary, professional income, interest income, profit in share transactions etc. If all put together does not exceed the exemption limit then you won't have income tax liability. Therefore calculate the income on all the above counts and determine whether or not to file return to the Income tax department.

Re: Banking & tax

We think that we can help you to solve your affairs forthwith, please send us your documents or write an detailed e-mail in order to notify the circumstance. We checked over the documents thereafter, we will return your added phone number,e-mail or address,as soon as.

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Re: Banking & tax

No there wont be any tax problem but file the Income Tax returns at the earliest.