Comment on Business Line: Read Section 44AD when filing return

Aakash commented on 15 Dec 2015, 02:06 PM

Hi,
I appreciate the efforts taken by zerodha for the educating common retail investors regarding income tax compliance.
1. I was thinking of trading in FnO but now i have decide not to, until i have some trading capital to afford 15K-20K for a CA audit.
2. It doesn’t make any sense for a small retail investor to trade in fno or intraday trading as the our regulatatory requirements are so ridiculous and most of the our retail trader will end-up making losses.
3. I am also curious to know that are such audit requirement common throughout the world or western world ? or India is the only country to have such requirement for derivative income of small traders.
4. I would suggest zerodha to tie-up with a CA firm specializing in filing return/audit/book keeping for people who are trading in stock market(small traders/investors), taking care of their taxation needs . It would take big pain out of retail investors and also it will be a big business opportunity for zerodha.

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