Turnover Amount and Tax

#1
Hi all Experts,

Will turnover will effect in incometax calculation? like if I did 5 crore turnover and got overall profit of 5000 then incometax will be calculated on 5000 ? am right?

Thanks in advance to all experts.
 
#2
hi,
if you turnover of 5 crore annual and your annual profit is 5 crore than no need for pay income tax.
if you want more information visit taxsavers.in
 
#3
Hello,

In case of derivative market turn over is calculated as total of all profit and loss made. For ex.

5 trancation done.
10k profit
20k profit
20k loss

So totoal turnover is 50 K right ?

Suppose I turn over is 6 Lk and return is 1 Lk from derivative future trading in stock / index will have I have to pay TAX if yes how much.

Regards,
Nishit.