Comment on Taxation Simplified
commented on
11 Mar 2014, 10:57 AM
I have 5 trades in delivery base equity which yield me profit of 3 lakhs but turnover is 1cr(Purchase value + sale value)
and in future stock reliance I have done 20trades which yields me 4 lakh profits
Going in confusion if i declare myself as trader do I have to consider 1cr turnover for equity trades or I have to calculate
1. 3lakhs +4lakhs=7lakh as TO
or
2.1crore + 4lakhs as turnover
Please clear this confusion