Comment on Introducing Balance - Clever ways to save

pluslink commented on 09 May 2017, 04:55 PM

respected sir
i wish to trade in equity intraday and have a query related to it.
1) i buy shares worth Rs. 500,000/- (five lakhs)
2) i sell them for 500,0500/- (five lakh five hundred)
net profit is 500/-
i this case what will be turnover for income tax return purpose.
i have heard that turnover above 1 crore rupees in 1 year needs ca audit. so just asking

question 2)- Are there fixed quarterly dates for issuing retention statements or returning unused money in clients account.
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