Tax calculations
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 December 2017
Hi
I am a stock trader in all segment ( F&O / Positional/ Intraday) ,
I would like to get some help to understand the tax calculation and audit related to it
Regards,
I am a stock trader in all segment ( F&O / Positional/ Intraday) ,
I would like to get some help to understand the tax calculation and audit related to it
Regards,
19 December 2017
Dear Trader / investor ,
please provide your email ID next time you write like this .
Please note that your Intraday trading or positional trade income can be classified as speculative business income and while Trading in F& O is considered in Non speculative business income and will be considered as Business Income . under Business income it will be added to your total income subject to limit as prescribed by Finance act time to time while Income from Short term profit will be taxed at 15% and only short term losses can be adjusted from it under Capital Gain. You have to plan your taxes wisely looking at Expenses incurred by you in doing this trading activity .
Accounting and Audit is simpler, Contract note wise accounting is desired .
Audit will again depend upon your income and limit as prescribed from time to time
please provide your email ID next time you write like this .
Please note that your Intraday trading or positional trade income can be classified as speculative business income and while Trading in F& O is considered in Non speculative business income and will be considered as Business Income . under Business income it will be added to your total income subject to limit as prescribed by Finance act time to time while Income from Short term profit will be taxed at 15% and only short term losses can be adjusted from it under Capital Gain. You have to plan your taxes wisely looking at Expenses incurred by you in doing this trading activity .
Accounting and Audit is simpler, Contract note wise accounting is desired .
Audit will again depend upon your income and limit as prescribed from time to time
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
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- TDS AND ITR ISSUE
- RATE AND HSN CODE
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
