Ask Me Anything about Taxation on Trading & Investing #TaxSeason2020

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Hi @praven_kumar, we have answered your question here

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If the turnover is 1 Cr and profit is 10 lacs, tax audit is not applicable since profit is more than 6% of turnover.

No. This is just a strategy for trading. Tax Compliance comes into picture when you make profit/loss from such trading activity.

Learn by Quicko – 14 Aug 19

Income Tax on F&O Trading | Learn by Quicko

Read about Income Tax on F&O Trading (Futures & Options) of equity, commodity & currency - Income Head, ITR Form, Due Date, Turnover, Tax Audit, Tax Rate