i am trading in share market and my turnover is morethan 1croe whether i attarct tax audit .
i have loss only all are intraday or short term loss so what i will show whether short term capital loss or hat
i am trading in share market and my turnover is morethan 1croe whether i attarct tax audit .
i have loss only all are intraday or short term loss so what i will show whether short term capital loss or hat
Just calculate turnover of Transactions in which you have taken delivery of share. Turnover of delivery based transactions shall be considered while checking limit of Rs 1 Crore for Tax Audit. Intraday Transactions, F & O Transactoin, Forward Contracts transactions in Commodity Markets in which delivery is not taken are not considered in 1 Crore Turnover.
This loss from Speculative transactions is Speculation loss.
Short term loss occurs in case you have bought shares as investment purpose, taken delivery and then sold them.
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