GST Plus - Get Daily updates,support,whatsapp Group & reply to GST Notices etc.!! Call : 011-411-70713 !!

ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

SUSHANT BIDAYE   31 March 2021

Derivatives transactions

I have following futures transactions

profit Rs. 10 lakh

loss Rs. 3 lakh.

so turnover 13 Lakhs.

can I show my profit at 8 % i.e. 1.04 lakhs and pay tax,

whereas my actual profit is 8 lakhs


 2 Replies

Ankit Neema

Ankit Neema   05 April 2021

I think you cannot offer a lower profit.
Vasudevan C P

Vasudevan C P   15 July 2021

Yes Sushant ji, the absolute profit (here 13L) will be your Turnover and provisions of 44AD presumptive taxation can be applied.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Start a New Discussion

Popular Discussion


view more »







Subscribe to the latest topics :
Search Forum:

Trending Tags