I am an individual full time trader and the only income i get is by trading. I would like to know how the taxation happens in below scenarios -
1, If Profit is < 1Cr and turnoever may be 20Cr
2. If Profit is > 1Cr and turnover around 30Cr
3. If Profit is between 2-5 crore and turnover around 50Cr
4. If profit is > 5Cr and turnover >50Cr
Also please let me know in which scenario i need to make audit and bookkeeping?
Thanks for the offer @Quicko but I actually asked that question to @Srinivas_Ramakrishna as seems he’s making a lot of money in trading and I thought I could learn few tips from him