08 October 2010
my client do trading in shares as well as investment in shares in daily basis,only at bse & nse at cash market and not in F & O on daily basis , more than 200 invoices are made per year....
how to do accounting for that for income tax purpose ?
PLEASE TELL ME URGENTLY WITH SUPPORTING CIRCULARS & NOTIFICATIONS & ALSO IF ANY SECTION RELATED TO THIS.
08 October 2010
Please read curcular no. 4/2007 to solve your doubts. In my view looking in to the volume and frequency of transactions it could be considered as business income for income tax purpose.
CAclubindia
