applicability of 40 lacs limit for trading of shares
This query is : Resolved
18 June 2008
In case of trading of shares, what will be considered for 40lacs limit
turnover or profit
turnover or profit
MANAS ROUT
(Expert)
18 June 2008
turnover means your total receipt of income.make ur question clear some more extent..
CA Anand Sarda
(Expert)
18 June 2008
In case of delivery trading, the total sale value of all the shares sold during the year should be taken( brokerage should not be deducted).
In case of intra day trading, the total value of profit/loss on each trading day should be taken separately and added. these value, if less than 40 lacs, not covered by sec 44AB.
In case of intra day trading, the total value of profit/loss on each trading day should be taken separately and added. these value, if less than 40 lacs, not covered by sec 44AB.
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