income tax on currency derivatives trading
This query is : Resolved
21 October 2017
I want to know how much tax is payable on income earned on currency derivatives trading..
can we consider this income under section 44AD.
how to save tax on business income.
pls clarify my queries..
thanks.
21 October 2017
Yes this income can be considered under section 44AD.
21 October 2017
thanks for replying my query...is there any obligation in Section 44AD that each year you have to declare income under 44AD.
2. can a individual trader doing currency derivatives trading claim under 44AD
21 October 2017
1 No such obligation but if you come out you can't opt for next 5 years.
2 Yes you can claim under 44AD.
2 Yes you can claim under 44AD.
21 October 2017
2. how much tax is payable for individual trader doing currency trading under section 44AD
21 October 2017
Work out the profit of 6% of turnover. Turnover is sum of profit plus loss and slab rate of tax applicable on profit so calculated.
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
- House Property Reporting in ITR
- Refund Annexure-B
- TDS Claim year
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Challan Code
- Refund of 20%pre-deposit paid for stay application
- Liable to deduct tds and 44ADA
- Rent lease agreement
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- 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
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
