Comment on Taxation for Traders - Introduction
commented on
24 Jun 2013, 04:20 AM
Babu,
Yes short term/intraday trading will also be part of your business and will have to be part of the turnover. In your ITR 4, you will mention the combined turnover but you will need to have a separate statement showing how much of the turnover was from f&O and which from short term equity.
Turnover is basically considered as your settlement profit/losses and this will be similar for equity trading. The profits/losses you make from intraday trading or short term equity trading will be combined together to consider for turnover.