sir
I am working as employee and doing trading on online for cash delivery as well as F & O. I had incurred loss in both segments, Now for turnover purpose
1. for cash delivery , i had details of total purchase value and total sale value. how to compute turnover (As per icici direct, total purchase value-Rs:9851475/- and sale value:Rs:9668155/- LOSS :Rs;183322.85/- --SPeculative income :11792.48 and SHORT TERM CAPITAL GAIN LOSS-171530.77)
2) for F & O , I HAD DETAILS OF positives and negatives, how to compute turnover.(Ccredits amount and debits amount total-Rs:6186626)
I had submitted itr-5 in july for ass year 2016-17. Now i recd a noticefrom CPC, U/S 139(9) saying the return as defective.--the reason as -TAX PAYER HAS CLAIMED UNDER THE HEAD-PROFITS AND GAINS OF BUSINESS OR PROFESSION- however he has not filled balance sheet and loss account and has not got the books of account audited.
Now, pl suggest me what to do. Whether i have to submit revised return or i have to go for audited returns.
,
CAclubindia
