Comment on Classifying Your Market Activity

Iqbal commented on 09 Jul 2018, 07:44 PM

Thank you Nitin for your prompt reply. I do not know how you manage to run a forum in spite of running this business. One can learn a lot from such an attitude.

I actually have one more doubt in mind. (By now, I’ve gone through the whole modules and most of the comments).

As I have shared my turnover with you above which is-

INTRADAY GROSS PROFIT₹-31,091.05
INTRADAY TURNOVER₹51,992.35

SHORT TERM GROSS PROFIT₹9,272.54
SHORT TERM TURNOVER₹9,33,049.93

1. So my question is, when you are saying, I can show 6% profit, instead of loss, I only have to keep the Intraday turnover in mind right? My short term turnover does not really come into the picture in this case. (I understand your disclosure of discussing it with CA)

2. when filing ITR 2, I will simply put the profit of 6% for Intraday and proceed normally with the actual turnover and profit for STCG, right?

These are all the doubts that we have.

Once again, I really appreciate what you are doing man. Allah bless you.

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