Short term capital gains turnover
This query is : Open
02 April 2016
In the FY, I have bought shares for Rs1.5Cr and sold for Rs1.4Cr. Do I need to get my accounts audited? I am not salaried and my only other income is from interest from Bank FDs.
02 April 2016
If you are a trader in shares then tax audit applicable to you. If you are a investor and your gains are short term/long term capital gain then tax audit not applicable.
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02 April 2016
Sir, First six months of FY, I have invested and traded. Next 6 months, I have invested in Shares and a some FNO too once in a while but no intraday. FNO gains are 2.5L but do not know how to calculate turnover. Total buy and sell in FNO will be couple of crores. Pls help.
Speculation gain (intraday) is 76000. Total Buy in Speculation is 10.5Cr which may not be called turnover. Turnover may be the absolute net difference of buy and sell.
My total investments in shares is 50L
Pls advise if I can file returns as Investor.
Speculation gain (intraday) is 76000. Total Buy in Speculation is 10.5Cr which may not be called turnover. Turnover may be the absolute net difference of buy and sell.
My total investments in shares is 50L
Pls advise if I can file returns as Investor.
02 April 2016
If you avoid audit you will land in problem opt for audit.
02 April 2016
Sir, Are you based in Bangalore. Could you help with audit of my accounts and file the returns.
02 April 2016
Does it mean, this should be considered as business income only? Or can it be considered as capital gains?
02 April 2016
I am not based in Bangalore contact a CA there he will advice you on going through your records.
02 April 2016
Thank you. Thought you too are CA. Will check with someone here.
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