Comment on Taxation for Traders - Introduction

anuj commented on 29 Aug 2016, 11:19 AM

i have some query if you can solve this
1.How to calculate option turnover which one is right way to calculate for itr filing……
A. Buy value + sell value + profit + loss
B. Sell value + profit +loss
C. Profit + loss only (when buy first and sell then means no shortsell or writting of option)
D. Profit + loss + premium received (when short sell or writing of option occurs means sell first then buy)

2. Do i need to audit if my turnover cross 2 crore and i have loss in total and my total income by other sources with trading loss donot cross taxable income.

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