commodity trading
Vinay Gupta (271 Points)
21 August 2019
where should I have to show gain on commodities in income tax return?
5 Replies
CA Manish Jathliya
(Professional)
(401 Points)
Replied 21 August 2019
It should be shown as business income you need to file ITR-4.
Kapadia Pravin
(17259 Points)
Replied 21 August 2019
Show this gain income under 44AD and you require to pay minimum 6% of Turnover or Actual gain whichever is higher. File ITR4
CA Manish Jathliya
(Professional)
(401 Points)
Replied 22 August 2019
Still you need to file ITR 4, and disclose 6% to 100 % income from business profession out of 5000.
Recent Topics
- Claim if ITC on stocks 19-2020 conversion from com
- Urgent doubt on GST
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
- Income tax on freelance income from crypto
- ITC temporary reversal and reclaim
Related Threads
CAclubindia
