Comment on Business Line: Read Section 44AD when filing return
commented on
20 Jul 2017, 04:11 PM
In calculating Turnover and Profit on Futures trade for Tax purpose, do we take Gross Turnover ( Absolute sum of Profits and Losess inclusive of brokerage, STT, GST, Stamp duty etc ) and Gross Profit ( ie Profit without deducting Brokerage, STT, Stamp duty GST etc )
OR
do we take Net figures ( ie Net of brokerage, STT, Stamp duty, GST etc ) ?