Tax rate for the trader in F&O

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Anand (Querist)
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10 January 2009 Hi,
I am a salaried individual and trading in F&O segment of stock market. My turnover is more than 40 lakhs.

Can I go for the direct tax or I have to go for the audit?
What are the documents I have to submit to IT Dept.?

This is my first year when I started trading in F&O.

Thanks in advance

Best Regards
Anand

C A GROUP COACHING

C A GROUP COACHING (Expert)
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10 January 2009 IN F & O TRADING YOUR T/O IS NOT TO BE TAKEN FOR CALCULATING THE LIMIT OF 40 LKHS U/S 44AB BUT YOUR PROFIT/LOSS IS TO BE TAKEN INTO CALCULATION FOR 40 LKHS

CHANDRAKANT AMBANI
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