Comment on Taxation for Traders - Introduction

1. Balance sheet is required only if audit is required (for everyone, including traders). IF no audit, it is not mandatory.

2. If you are already mentioning under CG head, you don’t need to mention again under other heads.

3. Firstly if you are showing under capital gain, you can’t include STT as an expense. Also futures and options have to be shown in the other business head, not under capital gain.

a. Yes this indicates full value of shares sold, you have an option either to show after deduction or before.
b. Yes total buy value of shares, again you have an option of showing with or without.
c. Ideally this training cost, you should include in your business expenses and not here.
d. So if in points a,b, if you don’t show the value after brokerage and other charges, you can show all the brokerage and other charges here separately.

Cheers,

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