Trading in f & o _tax implication
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 April 2018
Hello
My client is retired person and earning pension around 13000 per month. He have investment in Shares. For the year 2017-18 he has tried F & O and his turnover is around 7 crore. But his earning is only around Rs. 50000/-
Kindly let me know tax applicability on the same. Whether he is required get Tax Audit as turnover is above 2 Cr or he can just file Nil return.
My client is retired person and earning pension around 13000 per month. He have investment in Shares. For the year 2017-18 he has tried F & O and his turnover is around 7 crore. But his earning is only around Rs. 50000/-
Kindly let me know tax applicability on the same. Whether he is required get Tax Audit as turnover is above 2 Cr or he can just file Nil return.
Nikhil Kaushik
(Expert)
05 April 2018
audit is compulsory in this case...
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