Comment on Notice under Section 139(9)? - Possible reason

vikash commented on 15 Apr 2015, 05:35 PM

just now saw in ur blog link..

Taxation Simplified

If options is calculated on sell value then it seems very very strange …

When the TO crosses a threshhold of say 5-10 cr , then it is difficult to generate /show 40-80 L profits .. else even after auditing u stand a chance to receive a notice from IT dept.


Turnover is being calculated here just to determine if you need a tax audit or not

For F&O — absolute sum of settlement profits & losses for F&O) per scrip and the sell side value of option contracts

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