Tax u/s 44ad

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2011 SIR, PLEASE TELL THAT CAN INCOME FROM TRADING IN OPTION DERIVATIVES BE FILLED U/S 44AD
SECONDLY IN CASE OF OPTIONS WHAT IS TURNOVR IS IT SQUARE OFF VALUE OF A CONTRACT OR ADDITION OF ALL GAINS/LOSSESS.
THANK YOU VERY MUCH .

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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29 July 2011 1. 44AD can be opted.
2. Absolute value of profit and loss is the turnover.

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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29 July 2011 Addition of absolute value of all gains and losses forms the turnover. Section 44AD can be applied for this.

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2011 THANK YOU SIR FOR RESPONDING.
BUT I WANT TO KNOW THAT IT IS IN CASE OF FUTURES THAT WE ADD GAINS/LOSSES FOR TURNOVER PURPOSE.
IS IT SAME FOR OPTIONS ALSO. PLEASE TELL.
THANKS