How to show derivatives income
Querist : Anonymous
in whole process just made profit of Rs 50,000.
It needs to be shown as business income, but
Question is
1) How to show in income tax return? ie sales of 7.42 core less purchase of 7.41 crore or/ just profit of Rs 50k in business income.
2) Is tax audit required?
Querist : Anonymous
tAX AUDIT IS APPLICABLE.
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