Comment on Taxation Simplified

GUPTA commented on 17 Nov 2013, 02:39 PM

I have understood all these matters which u have considered in your blog … is a ultimate blog for gaining knowledge of the taxation of derivatives.
I am also a CA student ….almost 90% of CA’s does not know about the proper treatment of derivatives.

i have 2 queries which is quite common ..but i m not getting the proper reply for that from any CA :-

1) what is the purchase & sale value to be disclosed in ITR 4 (Loss amount as purchase & profit as sale OR total of all sales contract as sales & purchase contract as purchase …as per you gross receipts means total of profit & Loss then how we will adjust to come to actual profit ) in case we are getting it audited under section 44 AD .????
2) Can i take depreciation of car as expense because we have to go brokers & bank for the purpose of submitting papers ?

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