Fire your tax related queries and i would get it solved!!!

[oi trader boi]

milkyblack and wisp-Salary Income means are you guys a Govt Servant??
Then F&O is permitable to trade as it considered as a business,isnt it against a law?

Nikhil Ji,your reply please.

 

[niftygupshup]

milkyblack and wisp-Salary Income means are you guys a Govt Servant??
Then F&O is permitable to trade as it considered as a business,isnt it against a law?

Nikhil Ji,your reply please.

how come, salaray income means that they are govt employees. Any employee with govt or private job, will earn salary income
Secondly, yes if they are govt employees, then they cannot do business, but a side door is always open for them, to carry business, in the name of an adult family member.

 

[milkyblack]

milkyblack and wisp-Salary Income means are you guys a Govt Servant??
Then F&O is permitable to trade as it considered as a business,isnt it against a law?

Nikhil Ji,your reply please.

No, I am a trader by profession. Asked canikhil the question so that most of the people who have a salary income and have casually traded in fno, why should they get an audit done, and not just declare 8 percent as profit.

 

[oi trader boi]

then contact a CA in your city, who knows about/proficient in, F&O audit.

How to find out a CA who's well proficient with f&o auditing process?

http://www.traderji.com/taxation-ma...eries-i-would-get-solved-215.html#post1176632

Bhai,my CA is one of the top 10 in my city,lekin unke trainer CA ne plain ITR-4 ki jagah mera return 44AD me daal diya,now I got a defective return notice.
Now again unnecessary tension and kirkiri with CA.

I found only Nikhil Ji here answering every small query.But I cant reach him.

Pls tell somebody,how to know that the CA is well versed?

 

[niftygupshup]

I found only Nikhil Ji here answering every small query.But I cant reach him.

Pls tell somebody,how to know that the CA is well versed?

Bhai
It is said,
If there is a will, there is a way.

BTW
It is very difficult to know, about a professional like doctors, lawyers and many others, whether he/she or his/her assistants are well versed in their job or not.

 

[milkyblack]

How to find out a CA who's well proficient with f&o auditing process?

http://www.traderji.com/taxation-ma...eries-i-would-get-solved-215.html#post1176632

Bhai,my CA is one of the top 10 in my city,lekin unke trainer CA ne plain ITR-4 ki jagah mera return 44AD me daal diya,now I got a defective return notice.
Now again unnecessary tension and kirkiri with CA.

I found only Nikhil Ji here answering every small query.But I cant reach him.

Pls tell somebody,how to know that the CA is well versed?

I also file itr4 and the trading income under section 44 ad. My itr is processed. So maybe there is some other mistake that lead to error.

 

[oi trader boi]

I also file itr4 and the trading income under section 44 ad. My itr is processed. So maybe there is some other mistake that lead to error.

I dont fall under 44AD,but the income from other sources+FD=2.5L.
F&O trading is in loss,but no audit case.So I told my CA to file a normal return.But he filled a column under 44AD section,thus the return is defective.Its asking to upload Balance sheet and all that stuffs.

never expected such a mistake from a CA who's a full time working under a reputed firm.

So,how to find a good CA with f&o knowledge?You know,I know this auditing stuffs etc just because I trade with Zerodha and I got Traderji as a platform.Else other brokers dont even tell their clients that there's a thing called auditing.I was one of them when I started.

There's still a lot of illiteracy among traders and f&o auditors and thats why they differ in their views lekin Kitab to ICFAI ki hi padhi hai naa?

 

[canikhil]

I have received IT refund for AY 2016-17 and my Tax Assessment status says "IT Return Processed " and Refund sent to SBI.

But I have not received intimation under section 143(1) for completion of assessment or Assessment order....will it follow later on ? Normally I get such intimation.

Smart_trade

it will follow later on. In case you do not receive, raise a request for the same.

 

[canikhil]

No, I am a trader by profession. Asked canikhil the question so that most of the people who have a salary income and have casually traded in fno, why should they get an audit done, and not just declare 8 percent as profit.

You should not do that because for how long will you pay tax on profits even if you are not earning any? In case you have money to throw around, then instead of giving it in taxes (which are often inefficiently use), give it to a CA (may be a new one on the block so that he can set up his shop)!!

 

[canikhil]

How to find out a CA who's well proficient with f&o auditing process?

http://www.traderji.com/taxation-ma...eries-i-would-get-solved-215.html#post1176632

Bhai,my CA is one of the top 10 in my city,lekin unke trainer CA ne plain ITR-4 ki jagah mera return 44AD me daal diya,now I got a defective return notice.
Now again unnecessary tension and kirkiri with CA.

I found only Nikhil Ji here answering every small query.But I cant reach him.

Pls tell somebody,how to know that the CA is well versed?

boliye sir..kya karna hai send me email on [email protected]