provision for calculating turnover us 44AB for Nifty future
This query is : Resolved
Abhishek Ved
(Querist)
13 March 2009
Dear Sir,
What are The Provision For Claculating turnover u/s 44 AB of Incopme Tax Act For Tax Audit , If A person trades in Nifty only mostly on intra day basis
What are The Provision For Claculating turnover u/s 44 AB of Incopme Tax Act For Tax Audit , If A person trades in Nifty only mostly on intra day basis
CA Suresh Choudhary
(Expert)
13 March 2009
Daily margine will be considered as gross receipt for the turnover under section 44AB.
Irrespective of the turnover of the transaction.
Irrespective of the turnover of the transaction.
CA Nitin Wadhwani
(Expert)
13 March 2009
Only the Gain "and" the loss amount.
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