1.Do a trader need to keep separate books for stocks, derivatives and commodities markets?
2. If the source of income is only trading then the trader can write off the losses made in any of the markets with total profits?
3. ST Tax deducted at source, so trader responsibility is capital gains and income tax. Is that true?
4. If a trader makes Rs 3 Lakh profit from trading in a year, then the CG tax is Rs 30k, and thereafter the trader is liable to pay income tax on Rs 270k, am I right?
5. Is there any chance to claim deductions on expenses such as internet charges, mobile charges, books, software etc...
TIA
VG
2. If the source of income is only trading then the trader can write off the losses made in any of the markets with total profits?
3. ST Tax deducted at source, so trader responsibility is capital gains and income tax. Is that true?
4. If a trader makes Rs 3 Lakh profit from trading in a year, then the CG tax is Rs 30k, and thereafter the trader is liable to pay income tax on Rs 270k, am I right?
5. Is there any chance to claim deductions on expenses such as internet charges, mobile charges, books, software etc...
TIA
VG
