I traded currency of just 1 Lot and made just 40Rs. I was trying ut how this BO and CO works.
But i just got a message from NSE saying i traded amount 4,51,000 Rs. I know it amounts the leverage and all.
But my question is will I get an IT notice since lots of amount is shown and reflected on my pan card?
No problem my brother traded for 45crore last years you will become Multi crore businessman only here soon
haha, Still trying to get more experience day by day.
I trade 2 to 8 crores per day on brakcet order. So I should be worried lol!
1 Like
haha! Tax man is behind you.
1 Like
It’s just turnover. Not an actual profit or loss.
1 Like
I still have lots of varsity to complete. Thanks for the link
1 Like
In your case, 40 is the amount will be considered as P&L, That too on year basis. I wish your 40 should be added for more 5 to 6 more ZERO’S per day.
I’ll be happy to see
2 Likes
Have you filed IT returns based on varsity or total sales?my CA is advising to declare full sale value as turnover
thank you so much. Still working my way up.
I always feel so privilaged to be in the most best industry ever. No upside limit no down side limit.
Yes to him
Always file Ontime
1 Like
Last year I made 2 Lakhs loss, I only do intraday. I never invested. So my P&L simply shown 2 lakhs loss. In your case, It depends on your returns came from which product. Equity, mutual funds, etc. So yeah mine simply shown as 2 lakhs loss carry forward to next year. I’m still running on negative balance.
1 Like
Okay which ITR form?
ITR 2. I guess
1 Like
Sales 450000
Profit 40
Strange industry
very strange. When i got this message i opened my Kite to check if i had any open positions and it magically made 4,50,00 profits. Soon found out its true meaning. HAHA
1 Like