How much tax i have to pay after a year


#1

I am doing intraday trading of 200000 daily , sometimes i’m making profit ,sometimes i’m losing .
what if i trade sameway for one year .and i suppose my annual transaction will be in crores .
And my trading capital is lesser than what i invested in the day 1 .
will i be taxed ?
Any help will be appreciated .


#2

If your Turnover exceeds Rs. 1 crore you will be required to get your books of accounts audited. You have the option to pay tax under Presumptive Taxation Scheme on Income computed @ 6% of your Turnover and the turnover limit for getting accounts audited goes upto Rs. 2 crores. Refer sec 44AB and 44AD of the IT Act for details. Your accountant will be able to elaborate in case you have further queries. Cheers.


(newbie) income tax .. related question plz see the post
#3

If my trading capital lesser than what i have invested in the first place Or I have lost 50 % of my trading capital .
Still in the above mentioned scenario, will i need to pay tax for making an annual transaction of 2- 4 crores.