Comment on Tradetax for income tax returns when trading

sundar commented on 17 Jul 2017, 12:44 PM

Hi Nitin sir…I need your help.

I do not have any other income than trading…I traded last fin. year 2016-17 and find below the figures

INTRADAY GROSS PROFIT₹-25,897.50
INTRADAY TURNOVER₹1,02,056.40
SHORT TERM GROSS PROFIT₹-1,614.50
SHORT TERM TURNOVER₹58,363.50
LONG TERM GROSS PROFITN/A
LONG TERM TURNOVERN/A
TOTAL CHARGES₹15,419.94

My questions:
1. Do i need an audit for this above..? because turnover is less than 1 crore and profit also 8%..(Infact i incurred loss)
2. If audit is required, please suggest some sources
3. which ITR form do i need to file..

thank you in advance..

View the full comment thread »