taxes in trading

#1
Hi all,
I traded in commodities. I have an account in sharekhan.
I want to know that what about taxes in trading.
Is there any benefits in income tax. As i see with a buy or sell i pay some tax.
I want to know that is there any other taxes that i have to pay in financial year.
thanks
 

suri112000

Well-Known Member
#2
Hi all,
I traded in commodities. I have an account in sharekhan.
I want to know that what about taxes in trading.
Is there any benefits in income tax. As i see with a buy or sell i pay some tax.
I want to know that is there any other taxes that i have to pay in financial year.
thanks
As you have traded in commodities, you are required to get the following done.
1. Audit of transactions by a qualified Chartered Accountant.
2. Payment of tax on profit earned in trading commodity derivatives.

Consult a qualified Chartered Accountant to do the needful.
 

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