Comment on Taxation Simplified

Lala,

You look like an active trader, so you need to consider delivery based equity, fno and commodities as a business income/loss. Intraday equity trading needs to be considered as a speculative income/loss. I’d advise you to consult a CA to file your returns, but go to him after reading the blog and the Q&A, so you know what exactly the CA has to do.

Also read this blog .

About your expenses, as long as you can justify that it was used for business it should be alright. But i’d personally say, don’t show the whole thing as your business expense, because you are also living there.

Can you look at a few queries above, have explained clearly how to calculate turnover.

Cheers,

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