Calculation of income of derivative trading

This query is : Open

anshul (Querist)
Follow

17 April 2015 sir,
as per guidence note issued by icai if a person do trading in derivative then turnover for purpose of sec 44ad will be like
for eg assessee is done 3 trading and incure
a profit 10000
b loss 4000
c loss 3000
then his turnover will be 17000 and 8% of 17000will be income taxable
m i right or there will be any other way

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

17 April 2015 if there is loss then the net profit is 10,000-4000-3,000=3000 and on this tax is applicable.

anshul

anshul (Querist)
Follow

17 April 2015 How will we apply 44ad then because it's return any business so we need to compulsory follow this

anshul

anshul (Querist)
Follow

17 April 2015 How will we apply 44ad then because it's return any business so we need to compulsory follow this

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Avisha Sinha

NISHANT SIPANI

shanmukha sai

Rohit Sachdeva

Angadi & Co

Subscribe Now

Calculation of income of derivative trading

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

GST CONSULTANT

GST CONSULTANCY

Article Assistant

Manager- Finance and Compliance

Accountant