Comment on Taxation Simplified
commented on
27 Jun 2013, 10:04 AM
Sach,
Yes firstly your net profit for the year is Rs 30000 as per your calculation. But since f&o is a business, you can show the costs you have incurred to do these f&O trades, it could be computer depreciation, broadband charges, advisory fees etc.
You can add all of these expenses and reduce it from the net profit and pay tax only on that.
Do read the Q&A above, a lot of queries answered which should help you out.
Cheers,