Tax on derivative trading

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24 Points Posted on 30 June 2013

I am into trading the derivative market, and for the year ended Mar 13 , have a income of  6000 . I hve the following queries

1. is it mandatory to file income tax returns ?

2. If it is mandatory , is audit of the books mandatory ?

Thanks.

 

 

 

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On 30 June 2013 at 20:59 Report
Replies (1)
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1 If income is only 6000 and no other income, then you are not liable to file return of income.

2 Tax audit depends on the total sales or gross receipts not on the income. As your total sales or gross receipts are not mentioned, no comments on tax audit.

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On 01 July 2013 at 08:42

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