Comment on Taxation Simplified

Ajay vishwas commented on 05 Mar 2014, 10:33 PM

I’m full time trader in futures and options and doing few delivery based trades in a year ..
I have gone through blog and want to clear my confusions..
My profit and loss ledger shows profit of 8 lakhs
As I have gone through blog have calculated my turnover I.e settlement profits + settlement losses =55 lakhs
So the 8% would be 4,40000
If I calculate this under sec 44ad then it would be 4,40000-200000(exemption)=2,40000 then the tax would be 24k
Or I have pay the tax of 8 lakhs -2L= 6 lakhs
If I’m saving my taxes under 44ad should I be under security or they don’t open the file who files tax under 44ad have gone through few CA websites in which they say whosoever will file under 44ad their books won’t be open.
Suggest the favourable..
Besides that you are doing an excellent job to make us aware..
Hats off to you sir for this support..

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