F & o
This query is : Resolved
28 July 2014
My client received 600000/- salary and his F & O Income is around 1500000/- den which itr form should be filled.. and how income from F & O should be taxed
28 July 2014
You can go through ITR 4 Form
28 July 2014
nitin,
first of all you need to compute the F&O turnover. With a 15 lakhs profit, it is quire possible that turnover may actually exceed Rs 1 cr. In such a case 44AB audit shall apply.
Where turnover is less than 1 cr, you shall have the option offering income lesser than actual profits under 44AD.
In any case, the most pivotal issue to resolve is the turnover computation.
first of all you need to compute the F&O turnover. With a 15 lakhs profit, it is quire possible that turnover may actually exceed Rs 1 cr. In such a case 44AB audit shall apply.
Where turnover is less than 1 cr, you shall have the option offering income lesser than actual profits under 44AD.
In any case, the most pivotal issue to resolve is the turnover computation.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Long Term Service award taxability in hands of company
- BIS Certificates
- GSTR-4 Annual Return ! Pending Returns for F.Y. 20-21 to 22-23
- Procedure for claiming exemption in Article Ship for CA Course
- ITR 2 Short Term gain & Long term gain
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
