Some query about intraday trading

Please answer

(1) How to calculate intraday trading turnover?
Suppose, my trading value in FY-2021-22 is buy side total 5cr and sell side total 5.1cr. Profit 1lakh. So, what is the turn over value 5cr+5.1cr=10.1cr or 1 lakh

(2) I have to pay any tax over turnover?

(3) How to calculate trading income?
It is mandatory to File ITR if my income less than 2.5 lakh from intraday trading. I have no other source of income.

(4)I am trading from June 2021 When to file ITR for FY 2021-22 ? And any reliable online platform where they help me to file itr.

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@Quicko can you.

1 Like

Hi @samanta

  1. Suppose, In a particular transaction, buy value is 5 crores and sell value is 5.1crores then the turnover value will be absolute value of profit (or loss if any) i.e 1 lakh

  2. You do not need to pay any taxes on turnover.

  3. It is not mandatory to file return if your total income is less than basic exemption limit. But it always is suggested to file your ITR.

  4. For FY 21-22, Due date for filing the return would be 31/07/2022. You can file returns through Quicko’s Platform.

Hope this helps!