Comment on Tradetax for income tax returns when trading

Nithin Kamath commented on 04 Feb 2017, 03:58 PM

Thanks Prasanna, Can you check this module:, have explained everything in detail. As long as you are not evading taxes, govt is okay. So if your turnover is not much, you can just show the profit value when filing ITR as more than 8% to cover the requirement of audit. If your profit is more than 8% of turnover, best not to use this as you would be saving on taxes taking this route. This makes sense only if you are trying to avoid audit.

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