Intra day share turnover calculation

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sidambaraselvan (Querist)
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06 December 2013 I am the beginner in Intra Day Share trading.

Kindly guide me in the following area

If the profit is 10,000/= and loss is 3,500/=. then in this case whether my turnover is 13,500/= or 6,500/=

If my turnover is 13,500/= then whether I can treat this 13,500/= as Speculative Business Income as the amount is generated from Intra day share trading.

Then is it possible for me to show only 8% or the actual amount of the total turn over by way of intraday share transaction income as my business income

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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06 December 2013 YOUR INCOME IS NET RS.6500 FOR INCOME TAX ALSO.

IT WILL BE YOUR BUSINESS INCOME AND 8% U/S 44AD IS NOT AVAILABLE IN CASE OF SPECULATIVE BUSINESS.

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