Comment on Taxation Simplified

Nithin Kamath commented on 04 Mar 2013, 09:35 AM


By turnover I meant as explained in the blog, the settlement profit + losses. What you are considering is turnover of traded value.. Let me explain you the difference..

If you buy 100 shares of RIL at 1000 and sell 100 shares at 1010. Your traded volume is Rs 2lk+ but your settlement turnover is just Rs 10*100= Rs 1000..

All such settlement profits and losses together if exceeds Rs 1crore, only then is the audit required..

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