Query on 8% presumptive taxation
AY 2016-17 I did some option trade.Turnover was hardly 20Lakhs.So someone suggested me to declare 8% as a profit to avoid audit..I did that though my income was below 2.5Lakhs..
Now I come to know that if you take 8% presumptive taxation scheme,we cant...
I've received limited scrutiny notice for AY 2015-16. I had filed losses for the year in FnO segment.
While i'm NOT scared or panicking about this as I've done the filing through a good CA, just wanted to know if any of you have had gone through this experience before.
I am writing to you to get a clarification regarding getting my accounts audited in regard to my stock trading. I am a software professional and I trade Intraday and take delivery of shares as well.
1. I only trade in equities on NSE (no options/futures or forex)
2. My profit+loss turnover...
I intend this thread to be the bible for book-keeping auditing and taxation of stock and F&O trading operation. Please add your questions and answer whatever you can from the questions below.
Can someone please advise regarding the following:
In case, one buys or sells a...