Itr

HELLO FRIENDS, MY CLENT IS A SHOPKEEPER DURING THE PREVIOUS YEAR HE DOES THE SHARE TRADING AND HE HAS THE STATEMENT OF KAOTAK SECURITIES WHICH SHOWS HIS POSITION TOTAL PURCHASE VALUE 35,00,000 TOTAL SALES VALUE 36,50,000 PROFIT -1,50,000 I AM LITTLE BIT CONFUSED IN ITR WHAT I SHOW, IS THIS A SHORT TERM CAPITAL GAIN OR BUSINESS.

PLS. HELP ME THANKS.

Replies (3)

heloo friend....

friend both the option are available for the client...............

your have to decide, in which option less tax should be levi to the client........

calculate tax from both options and choose the least one.......,,,,

 

THANK YOU

THANKS. BUT I WANT TO ASK ONE MORE THING IF SALE PROCEEDS MORE THAN 60 LAKH THEN IF I SHOW BUSINESS THEN AUDIT IS REQUIRED AND IF I SHOW CAPITAL GAIN THEN NO AUDIT IS REQUIRED.

PLS. REPLY.

 

yes raj............................. audit is required if turnover exceeds 60 lakh, in business and profession;

thank you

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 25 October 2026
Article Intern (CA Articleship)

Arpan Bohra & Co

Hyderabad

CA Inter

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details