Comment on Taxation Simplified

Nithin Kamath commented on 06 Feb 2017, 09:18 AM

Suggest you to go through this:

F&O loss can be setoff against Speculative (intraday) profit. Delivery based equity is best shown as capital gains if the frequency of trading is not high (tax on short term is 15% and long term 0).

Audit is required if business profit is less than 8% of turnover in case total turnover less than Rs 2 crores (limit increased from this year). You can’t mix pension/capital gains with business (intraday+F&O). Do go through the link I have provided.

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