Tax u/s 44ad

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2011 SIR, PLEASE TELL THAT CAN INCOME FROM TRADING IN OPTION DERIVATIVES BE FILLED U/S 44AD
SECONDLY IN CASE OF OPTIONS WHAT IS TURNOVR IS IT SQUARE OFF VALUE OF A CONTRACT OR ADDITION OF ALL GAINS/LOSSESS.
THANK YOU VERY MUCH .

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

29 July 2011 1. 44AD can be opted.
2. Absolute value of profit and loss is the turnover.

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
Follow

29 July 2011 Addition of absolute value of all gains and losses forms the turnover. Section 44AD can be applied for this.

Upgrade to CAclubindia Pro. Subscribe Now!

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2011 THANK YOU SIR FOR RESPONDING.
BUT I WANT TO KNOW THAT IT IS IN CASE OF FUTURES THAT WE ADD GAINS/LOSSES FOR TURNOVER PURPOSE.
IS IT SAME FOR OPTIONS ALSO. PLEASE TELL.
THANKS