Comment on Taxation Simplified

Vijay commented on 21 Feb 2014, 07:07 PM

Hi Nithin,

I have started trading only from May 2013 in futures segment and little in cash segment(intraday). So I understand that I come under trading business. My turnover is more than one crore definitely, but I do not have a record of what I did all this while. No journal, no cumulative P/L, nothing whatsoever .. How do I determine my taxable income?

Just to confirm, I have time till September 2014 to file returns, right?

Thank you.

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