Below is case for Day Trader in stock Market
Dialy buy 10L and sell 10L in F&O so total transaction 20L. Profit/loss 1000 to 2000.
How to calculate Tax?
Does this require Tax Audit by CA?
Learn Law (Student) (70 Points)
03 October 2013
CA Mitesh N Kothari
(9821662799)
(391 Points)
Replied 03 October 2013
In these case ur turnover will be taken as follows,
Day 1 :Profit 1000
Day 2 : Loss 2000
then ur total turnover will be Rs 3,000/- bcoz ur turnover is total of all ur profit and loss in absolute turm.
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