Comment on Taxation Simplified

Viju,

Keeping your long term trades and short term trades separate is very tricky and if tomorrow the taxman calls you for an audit, might be very tough to explain. A lot of traders keep separate trading accounts one for long term investments and one for short term trades to keep both the accounts separate.

This is a very tricky subject and since there are no hard and fast rules given by the IT department, tough to explain.

But do ask your CA an opinion on this.

Cheers,

View the full comment thread »