Comment on "Tradetax for income tax returns when trading"

Comment on Tradetax for income tax returns when trading

Subramanyam commented on 03 Aug 2016, 08:36 PM

My total sale value in futures is around 18 Crore for financial year 2015-16
My loss is 6 Lakhs for financial year 2015-16

Based on your notes Markets and Taxation can I interpret that my turnover is 6 Lakhs for futures and not subject to audit.

However because my profit is less than 8% should I submit audited report.

Please clarify.