F&O transactions

This query is : Open

Poojitha Karnatapu (Querist)
Follow

19 February 2017 is the calculation of tax is different for them, and in turnover we include both favourable and unfavourable trades, why ?? Is any expenditure we allow them to deduct from profit?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

22 February 2017 1. Tax calculation is not different.

2. Absolute value of gain or loss is considered as turn over only for checking the 44AB audit limit.

3. Expenses in relation to F & O trading can be claimed .

Poojitha Karnatapu

Poojitha Karnatapu (Querist)
Follow

22 February 2017 thank u sir