Comment on Taxation Simplified

kannan commented on 08 Feb 2013, 04:44 AM

Dear sir,

i am a purely commodity trader and i trade on intrday basis only . Suppose i invest 10 lakhs to my trading a/c and i am booking 1 lakh rs as profit every month and that will work to 12 lakhs per annum.. should i file income tax . i dont have any other source of income and this is my only source of income. if i have to pay tax what is the calculation and how i can reduce the tax by showing expenses.

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