Comment on Taxation Simplified

hafiz commented on 12 Mar 2014, 07:33 PM

Thanks sir in this case my turnover settlement profits + settlement losses for individual contracts of f&o is 30 lakhs but I’m confused about equity here now !

Do I have to calculate equity turnover same as I did in f&o then it’s 10lakhs…
If not then purchase value + purchase sale= 90 lakhs
1) if I show myself as trader then my turnover would be 1.2 crore(equity 90lakhs +f&o 30lakhs) or 40 lakhs(30fno +10 stcg)?
2) if I show this as individual stcg 8lakhs x15%=90k tax
Then what be the tax for my f&o profit if it’s say for example 5 lakhs?
Can u calculate for me please and clear the stcg clubbing issue also..
Thanks a ton in advance

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