Comment on Notice under Section 139(9)? - Possible reason
commented on
15 Apr 2015, 05:35 PM
just now saw in ur blog link..
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
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