Intraday transacy

My intraday turnover is 500 and profit is 400 as i have done only 7 transactions in a year can i show this other source of income

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Quick Summary
This discussion clarifies how to calculate intraday trading turnover. The user's reported turnover of £500 from 7 transactions with a £400 profit was deemed unbelievable. It's explained that the absolute value of each transaction must be used to determine the correct turnover. If the calculation is accurate, the income can be declared under IFOS (Information Other than from Specified Sources).

What is the total turnover in the year?

Sir it is only 500 and profit is 400

Total turn over for 7 Intraday transactions having turnover of Rs. 500/- is unbelievable.

You have to take absolute values of each transaction for arriving at turnover.

Check it properly, If it be true, you may declare it under IFOS.

Thank you sir i have checked the value it is coming out to be 500 something ..

Show under IFOS

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