Taxation Discussion

#51
Re: General Trading Chat

So all loss makers and traders with income less than Rs 2 Lacs ...no audit if the turnover is below 1 Cr....

As I have searched this from Govt's clarification, ek party banti hai bhai...:D

ST
 
#52
Re: General Trading Chat

Dear st da,
If one in loss that year he also need to do audit?:confused: as in loss also it comes under 8%...just asking for clarity....
No as per the above circular the loss means profit less than 2 Lacs...so no audit..

Smart_trade
 

sumosanammain

Well-Known Member
#58
Re: General Trading Chat

Inka audit nikalna padega...u/s 34 A,B,C,D,E,F,G..........of the act....:D

ST
This is DEFINITELY one place where people must be longing to file returns and pay taxes at the end of the year, as it would mean that they have made money in trading.
Most probably the stats will be one in 300 odd members would be filing his returns because of trading related profits, and maybe even this figure is optimistic.

What say ST?
 
#59
Re: General Trading Chat

This is DEFINITELY one place where people must be longing to file returns and pay taxes at the end of the year, as it would mean that they have made money in trading.
Most probably the stats will be one in 300 odd members would be filing his returns because of trading related profits, and maybe even this figure is optimistic.

What say ST?
Yes, very true.

ST
 

sangram1705

Well-Known Member
#60
Re: General Trading Chat

So all loss makers and traders with income less than Rs 2 Lacs ...no audit if the turnover is below 1 Cr....

As I have searched this from Govt's clarification, ek party banti hai bhai...:D

ST
I think people would rather want to be profitable & pay tax as per laws than remain loss making traders.

Till that time the profit making traders can host such parties:D
 

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