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

sreen commented on 27 Jun 2015, 12:04 AM

Thank your Nithin,

I certainly follow your suggestion and will be seeking CAs help in this regard. Meanwhile I greatly appreciate your clarification on the speculative trade part;

My Total Turnover of Intraday trades ( speculative) = Rs.6,600/-

Trades- Intraday Profit (SCG) = Rs. 4200/-

This Profit (Rs.4200/-) is much more than 8% (Rs.528) of Total TURNOVER of Speculative/ Intraday trade (Rs. 6,600).

So, in this case do I still need Tax-Audit and ITR-4?


Apart from above, rest is as follows for your quick view, please.

Turnover of Trades- Delivery = 1,25,00,000/- ( rounded off).

Trades- Delivery P/L = – 4500/- (CG Loss).

My Salary Income = 5,00, 000/- (Approx)

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