Comment on Taxation Simplified

Nithin Kamath commented on 17 Apr 2014, 09:53 AM

Especially in cases of F&O, there might be positions which are profitable on 31st March, but can become loss making in the next FY. Since you have made a profit, it wouldn’t really matter to you, but it is best to follow a practice that will be consistent in the future as well. My advise would be to not calculate profits for the open positions as on 31st March, but as on the day you exited and since it is in April the next FY, declare the total profits for the open positions next FY (FY15). But do have a word with your CA once.

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