Turonover Limit for Audit is ₹10 Crore if transactions are through banking channels, otherwise it’s ₹1 Crore. Turnover Limit for Presumptive Taxation Scheme is ₹2 Crore. Hope you found the Q&A useful. File your ITR with TaxBuddy easily - filemyreturns.taxbuddy.com/prsundar
@TarunKumar00
2 жыл бұрын
Through the video i clearly understood that i need not pay any tax because i am in net loss of 4.5 L, but confusion is that in which year ITR i need ro claim loss?? This year ITR before 31st dec 2021 ?? Or i will claim in next year 2022 ITR.
@chamalaarjun9422
2 жыл бұрын
can you please explain what does it mean "transactions are through banking channels"
@kishorereddy3888
2 жыл бұрын
@@chamalaarjun9422 not in cash mode. If you are doing trading that means everything happens through bank so no cash payment.
@KUNAL-qk4vb
2 жыл бұрын
Sir I have one question in option we have to paid tax in based on turnover or net profit or loss please solve it many of ask same question.....
@TaxBuddy
2 жыл бұрын
Hi, Chamala Arjun , this mean more than 95% of sale and expense transactions should be trough banking channel. In F&O , by default all transactions are from banking channel. There is probability of few incidental expenses being in cash and we should try to avoid such expense in cash.
@nitinwaghmode
2 жыл бұрын
Shri Sujit Bangar founder of tax buddy has clarified the issues in such a lucid and simple way that it has made my understanding better. Please come up with more and more such Q and A sessions.
@madhukumar2972
Жыл бұрын
Ñr dpl😊❤😊7y up i5. Qu
@vikas1018109
2 жыл бұрын
This is the first time I am commenting on your video, but this time I just could not hold myself back! What an amazing content! Very very useful and lucid way of clearing major doubts
@FUN_DAY_FOR_US
2 жыл бұрын
I think, sending letter to HOD will attract CCS disciplinary proceedings
@vigneshp6047
Жыл бұрын
Only for central government officials
@AroraPriyank246
2 жыл бұрын
Very helpful. Sir please show once through an account the FnO turnover calculation
@kumargupta91331
2 жыл бұрын
I am a ca final student as per my knowledge In case a person has brought forwarded losses from the business or profession and in the current assessment year the person files the return of income declaring his income under presumptive scheme specified u/s 44AD or 44ADA or 44AE then he is allowed to set off the brought forward losses from the presumptive income. In such a case the person is required to file return of income under form ITR-3 declaring his income on presumptive basis under table 61 to 64 of “Part A P & L” of the form and declaring the brought forward losses under “Schedule-CYLA”.
@rajass756
2 жыл бұрын
One of the superb video.many CA don't know in detail about fno calculation.this video is guide for them 👍
@sebastianmichael3789
2 жыл бұрын
Sir, i being a tax practitioner myself, wud like to highlight that for q5, the reply was that if one has loss no need of tax audit.. well, its true if one has only fno loss. But if in addition, one has salary income(abv 2.5 lac),, then tax audit is mandatory.. also, last question, reply was that brouggt frwrd loss cant be adjusted against presumptive income, but it again is contradictory becoz only expenses falling in section 28 to 43 r not allowed against presumptive income, whereas bf losses fall in section 70-80 which is not rrstricted against presumptive income... Ur team may contct me fr further clarification.
@divakardadhich5881
2 жыл бұрын
Can you tell which section/clause states you need audit if you have salary income along with F&O loss. I have been hearing about this but want to understand what’s the basis for this statement.
@sachinware1313
2 жыл бұрын
No need of audit even salary having more than 2.5 L
@drmrahul
Жыл бұрын
omg. what a crystal clear explanation. it's so beautifully made. This addressed exact doubts which i had. I assumed I ll have to pay 30% of 18 lakhs in FnO profits. Now as my turnover is 32 lakhs I can calculate 6 % as profit.
@dineshbalu711
2 жыл бұрын
Can't be explained more clearer than this video. Great one 👍
@rahulmahenderkar5633
2 жыл бұрын
The last answer is incorrect...carry forward losses can be set off against current year presumptive income.
@rajavadivel5024
2 жыл бұрын
Another useful video. I would like to explain share trading for central government staff. Share trading not allowed. Only investment upto maximum of 6 months basic pay in a year is allowed. Investment beyond 2 months Basic pay should be intimated to the Department concerned. Pl note that frequent investment is also considered as trading which is not allowed.
@supratimbasu1373
2 жыл бұрын
very informative and highly appreciable 👌👌👌 cleared all my doubts!!
@kakarlabharathi975
2 жыл бұрын
Excellent classification sir.. Thank you Sundar ji for inviting him
@AjithPrasadEdassery
2 жыл бұрын
Great session! Thank you Sundar and Bangar 👍🏼👍🏼
@PraveenKhunte
2 жыл бұрын
Please explain in detail the turnover calculation for an Option trader, as it is not clear by stating Profit + Loss + Premium
@PHOENIXGAMING4HD
2 жыл бұрын
go to your brokers back office and find tax p&l button there. u dont need to calculate it manually
@PraveenKhunte
2 жыл бұрын
For understanding purpose, Profit/Loss = Sell Premium - Buy Premium. Then what is the meaning of Premium added at the end in "Tunover = Profit + Loss + Premium". Is it Buy Premium or Sell Premium?
@PHOENIXGAMING4HD
2 жыл бұрын
@@PraveenKhunte both the prem from buy n sell orders are included. For example if i buy optiom of prem. 100 and sell it at 50(square off). Both the prem100+50 will be included in calculation
@PraveenKhunte
2 жыл бұрын
@@PHOENIXGAMING4HD so, the turnover of this trade (assuming 1 lot of nifty) would be Loss + Premium, which is 50 + 100 + 50 equals 200. Is this right?
@samratchopra01
2 жыл бұрын
@@PraveenKhunte if option bought for 100 and sold for 30. Then turnover will be the 70(loss on option) + premium collected = 30 on sale of option. Total turnover will be 70+30= 100
@nandkishoreb8696
Жыл бұрын
Very clear information. Many KZitemrs just confuse with lenthy videos.
@navingoyal2003
2 жыл бұрын
For Option turnover, please clarify - Buy option premium is Rs. 10K and Sale option premium is 22K so profit is 12K. So Turnover is Rs. 32K(10K+22K) or 34K(2K+10K+22K) or some other way. Please guide
@KunalKourani
2 жыл бұрын
Still same question in my mind.
@MANISHSRIVASTAVA
Жыл бұрын
Now the rules have been changed … just total absolute profit and absolute loss and that is your turnover… no need to add premium even in options
@sathishnagaraj7203
2 жыл бұрын
Thanks a lot for much awaited video on this topic.👍👍
@ArattaTube
2 жыл бұрын
Sir, in next episode please talk about Intraday speculative income. I have all same questions with Speculative income.
@AKSHAYMEENAUNIVERSE
2 жыл бұрын
Taxbuddy should bring video chat service also 🙏🏻
@satyamnityamjayate
2 жыл бұрын
Thank you so much sir and Sujith sir. Most of the tax consultants are just doing copy of ITR but not keen in advising the payer like you did in one example. Thye dont try to give all possibilities of claiming losses or expenses, but charge 500-2000 just to copy Form 16 to ITR page.
@compoundingwealth4693
2 жыл бұрын
Super informative session. Thanks a lot for insights about F&O taxation.
@worldamplify
2 жыл бұрын
Very important and nice information provided , thanks sir 🙏🏻🇮🇳
@dakshays6375
2 жыл бұрын
Thanks Mr Sundar. This is gem💎 Thank you for using your powers to the noble cause of helping others. I have one question please ask this in next video. As far as I know, there is rule in Income tax act that says that F&O positions taken to hedge the long-term investments in cash segment are treated differently for taxation purposes. If I had bought put-options to hedge my investment during 2020 crash, my put-options would have gone higher while my stock holdings crashed. But, because these put options was bought with an intention to hedge my investments from virus uncertainties, the net-gains I get from appreciation of my position (investment and its hedge) is supposed to be considered as capital gain rather than as business income (despite having F&O position) Can you please ask TaxBuddy and verify if this is true?
@danadan7184
2 жыл бұрын
I also heard this
@manan8014
2 жыл бұрын
Please ask if this is true If this is true I will save lot of tax I have been filing option hedges as business income
@Vidyasagarbb
2 жыл бұрын
If your turnover & transactions in options is very less and bought only for hedging, sure you can declare it as short term capital gains & not business income. This is allowed as per my study in few tax websites & also varsity by Zerodha. Just be sure to provide proofs if IT officers dispute it. I don’t expect that to happen though.
@mkarvj
2 жыл бұрын
Thank you so much for the wonderful video sir... you took so much initiative to support the retail traders by providing such information. Thanks to Sujita Bangar sir for all the clarifications and answers. He was so patient enough and provided a very clear details.
@raghavendravishwas5929
2 жыл бұрын
Sir please make a video on LTCG..and how to escape from it..
@ABC-ng3ww
2 жыл бұрын
Sir - please double check. Even in case of presumptive taxation, past year losses can be adjusted. Presumptive taxation is to ascertain income of current year where as past year set off of losses is towards computation of tax
@Vidyasagarbb
2 жыл бұрын
No. you can not set off past year losses from the same business that you have applied presumptive tax this year. if you are talking about two different businesses and then the second business does not use presumptive tax, then you can set the losses off against such second business income.
@parthasaradhi7718
2 жыл бұрын
Good video sir. How option premium calculated with absolute profit and absolute loss
@prathmeshsawant5248
2 жыл бұрын
I'm student what should I do my parents don't know that I'm doing trading also 🤔
@farmersbasket4951
2 жыл бұрын
Thank you both for this wonderful session
@Ideas4wealthIndia
2 жыл бұрын
THANKS SIR, GREAT EFFORT TO MAKE THINGS SIMPLE
@niftytamilexplanation1236
2 жыл бұрын
Very useful ..Thank you Sir
@dheeraj1974yt
2 жыл бұрын
Tax Buddy team or any expert here I still need some clarifty on turnover for option selling. Trade 1 - I sell an option for rs 100 and exit at 120. Book a loss of 20. Current concencus seems be that Turnover = Loss + sell value of option. In this case tat would be 20+ 100 = 120 . However i have not received any premium since i booked loss, so should the turnover be just the loss .i.e 20 ? Trade 2 - I sell an option for rs 100 and exit at 30. Book a profit of 70. What will be the turnover in this case. Will it be the profit + sell value of option ie. 70+ 100 = 170 ? or will the turnover be profit of 70 + net premium received of 70 ? Appreicate your help if you could calculate the tunover for these two trades .
@dakshays6375
2 жыл бұрын
I have similar doubt. Please clarify this
@dheeraj1974yt
2 жыл бұрын
@Kishore Reddy can you help please ?
@sachinmogha
2 жыл бұрын
nice work Sundar chhcha
@abcdef698
2 жыл бұрын
These two guys have not even seen ITR-3 on the new portal! You cannot show loss in the P&L section directly, as they have disabled insertion of minus sign to show loss (negative value) under “No books of account” at sl.no.65 in Sch P&L! So, the only way you can show your loss is by entering the total business expenditure and business income in their respective sections. The loss will be automatically calculated and transferred to the P&L section. HOWEVER, when you validate the file, an error will be displayed saying that the profit is less than 8% but no audit details are shown. It will warn that though the return can be uploaded, it is a defective return! Now it becomes easy for the IT department to send notices to all those who have filed defective returns!
@abcdef698
2 жыл бұрын
The aim of this govt is very clear - they do not want retailers in the F&O market! Period! First they reduced the margin allowed for F&O, then they said equity F&O will no longer be cash settled, and now unless you generate at least 8% profit, or if you incur a loss, you will have to spend another Rs.15000 or more to get tax audit done! The message from Shri Modi and Madam Sitaraman is very clear: RETAILERS, GET OUT OF F&O MARKET! IT IS A RICH PEOPLE'S CLUB WHERE RETAILERS AND DOGS ARE NOT ALLOWED!!!!
@TaxBuddy
2 жыл бұрын
Hi, ITR-3 is being filed on new portal with reported loss and without audit.
@stockmarketmindset
Жыл бұрын
In options for turn over we have to add premium collection means for writer and buyer same or diffrent formula
@rameshnayak700
2 жыл бұрын
During office hours it cannot be carried out since trading taking place during office hours it not permitted.
@VastKnowledge2023
2 жыл бұрын
1. Presumptive taxation turnover has been increased to 5 crores in 2020 2. Presumptive taxation should be availed for minimum 5 years continously or else you cannot opt for it again. 3. For options turnover both buying and selling premiums need to be calculated or just selling side premium? Pls clarify these three.
@TaxBuddy
2 жыл бұрын
Presumptive taxation turnover is ₹2 cr. The limit requirement of turnover for audit has been enhanced from ₹5 cr to ₹10 cr from FY 2020-21.
@Dumpeti
2 жыл бұрын
Sir I have one advise for you.. Next time out one small table in front of you and place 2 water bottles and tea ☕ cups...will be good to see.
@satishkarella8235
2 жыл бұрын
Sir... Please elaborate the turn over calculation in options...
@rajeshkannand6273
2 жыл бұрын
Thanks for this very informative session. Got 2 questions. Is option premium paid is treated as loss or gain? Can you also please talk about tax treatment for salary+dividends+ capital gains/ losses from equity selling. Thanks
@robinson_rn
2 жыл бұрын
Hello Rajesh. Salary & dividend are taxed at normal rate (ie as per slab) Short term capital gain out of sale of equity shares is taxed at 15% Long term capital gain out of sale is equity share is taxed at 10%. However, there is no tax for gain upto ₹1L. The losses from capital gain can be carried forward for 8 years. And loss from short term can be set off against both long and short term gains. Whereas, loss from long term can only be set off by long term gains.
@advarunathakkar2614
2 жыл бұрын
Also, The answer to this issue will depend on the facts and circumstances of each case taking into consideration the nature of the transaction,
@deepakk7149
2 жыл бұрын
Sir I am a salaried employee... Last 2 years I had loss in FnO of 2 and 1 lakhs respectively, turn over is 65 lakhs and 40 lakhs respectfully and I didn't show that in itr and I just filled itr 1. ( I didn't not get any notice from IT ). This fy I had loss of 3 lakhs in FnO and turn over is 80 lakhs and I filed it and showed it in itr 3. Not opted any presmtv taxation. Is audit applicable for me? And do I have any problem from last 2 Itr ? Will Inc tax dep share these info with our employer ? Bkas I m a govt employee..
@satyanarayananalam2112
2 жыл бұрын
Thank u so much sir for clearing many confusions and doubts
@varunmk7854
2 жыл бұрын
Need more clarity on an individual account, In one of the videos on 2-June-2020, you have mentioned that for an individual account, the loss for FY can be carried forward to the next year and get the benefit over the profit of next year. But in today's video tax buddy CEO- said that cannot be done. Could you clarify more in detail for an individual account? Thank you
@bikramjitroy9639
2 жыл бұрын
Should the FNO turnover be declared in the IT return? If yes then where and how....
@aniruddhamahadik2161
2 жыл бұрын
Tax buddy team Thank you for making this video About audit 1)As you said 10CR limit is important Actually I don't want to go with presumptive taxation Even if I am comming under the scenario (Turnover less then 2/5 CR which is prescribed under Presumptive tax And profitability is less than 6%/8%) So can I simply ignore the presumptive taxation sec and only Focus on 10 CR is crossed or not if crossed then only audit required Irrespective of profit or loss Right ??? And I need to file only ITR3 AND SHOWS income/Loss from normal business ?????? 2)and is the same applicable For Intraday Equity ? In terms of Turnover calculation is same as future turnover ? 3)In STCG And LTCG The specific Percentage is decided Which is 15% For STCG And 10% for LTCG (Above 1lakh) So this comes under Captial gain right And tourn over is not considered for this right ?????? 4)The 10CR turnover limit is for Financial year 2020-2021 As well as 2021-2022? And total turnover include 10 CR as discussed can be included intraday equity ? Please help to clerify this So my all doubts get solved 🙏
@TaxBuddy
2 жыл бұрын
Hi Aniruddha , Presumptive scheme is choice. It’s not mandatory. Secondly , don’t confuse these rules with capital gain. Capital gain rules are diff and separate. Thirdly , turnover limit of ₹10 cr is available from financial year 2020-21 and subsequent years.
@aniruddhamahadik2161
2 жыл бұрын
@@TaxBuddy and is the same applicable For Intraday Equity ? In terms of Turnover calculation is same as future turnover ? And total turnover of 10CR can be total of f and o + Intraday equity
@arvindverma20
2 жыл бұрын
@@TaxBuddy I m a salar ied employee. My income is ₹4.5 lakh, I did option trading with turnover ₹4.3 lakh and had losses of ₹80,000, does audit is required as my income is more than the exempted limit of ₹2.5 lakh? I transferred ₹2 lakhs from my salary account to trading account, in balance sheet should I show these ₹2lakh only as source of fund or I have to show all the balance that I have in my accounts and received as salary?
@arvindverma20
2 жыл бұрын
@@TaxBuddy I m a salar ied employee. My income is ₹4.5 lakh, I did option trading with turnover ₹4.3 lakh and had losses of ₹80,000, does audit is required as my income is more than the exempted limit of ₹2.5 lakh? I transferred ₹2 lakhs from my salary account to trading account, in balance sheet should I show these ₹2lakh only as source of fund or I have to show all the balance that I have in my accounts and received as salary?
@mchkarthik
2 жыл бұрын
Superb explanation by tax buddy ceo sir
@pavanharish1430
2 жыл бұрын
what is the fees for filing in taxbuddy any processing fee or percent like that
@robinson_rn
2 жыл бұрын
FY 19-20 - Profit - Presumptive Tax (ITR 4) FY 20-21 - Loss - Normal Return (ITR 3) FY 21-22 - Profit - Normal Return (ITR 3) I don’t think you can claim Presumption Tax for the FY 21-22. As the act says that if a person opts for presumptive taxation scheme then he is also require to follow the same scheme for next 5 years. If he failed to do so, then presumptive taxation scheme will not be available for him for next 5 years. Correct me if I’m wrong.
@iam_ram_
2 жыл бұрын
Yes, I have the exact same doubt! and its separate for SALARIED and NON-Salaried. May be Mr. Sundar will clarify this in his next video.
@kishorereddy3888
2 жыл бұрын
Absolutely correct 👍. For FY 20-21 - Loss - he can go for normal return ITR3 but maintenance of books is mandatory as also tax audit.
@robinson_rn
2 жыл бұрын
@@kishorereddy3888 Yes, maintenance of books of accounts becomes mandatory. But tax audit is subject to the turnover conditions. Just because you’ve incurred loss, it doesn’t mean you have to get your accounts audited.
@robinson_rn
2 жыл бұрын
@@iam_ram_ What do you mean by separate for salaried and non-salaried.?
@kishorereddy3888
2 жыл бұрын
@@robinson_rn it's not about the loss, it's about whether income is offered under presumptive taxation or not for continuously for 5 years. If say, in 2nd year you've incurred loss and don't want to file under presumptive taxation then maintenance of books is mandatory and get the books audited is also mandatory even if the turnover limits for tax audit not met. Just read section 44AD(4) & 44AD(5), you eill get clarity.
@natureispermanent7852
2 жыл бұрын
Please also provide the criteria to maintain book of accounts for FO and which statements are needed for that if trading through a online platform.
@MsSumandas
2 жыл бұрын
Very nice video on taxation for option trader
@yuvarajdhanasekar6857
2 жыл бұрын
பெயற தப்ப சொன்னதுக்கு ,punishment eh hahaha. Only fun 😂😂. Apart from that it was very informative. தல. 🙌
@pramodshetty5076
2 жыл бұрын
Sir this is an amazing video. Can you also explain the Turnover calc with an example for newbies
@kasatkarpratik
2 жыл бұрын
Interesting and informative !!
@TheKunaldhingra
2 жыл бұрын
Whats the turnover limit if one trades mostly in Cash segment?
@aliksen1005
2 жыл бұрын
sir thank you for expert came ,but you will do another video simple tax clamed understand for today discussion
@nayasavera836
2 жыл бұрын
Thanks Mr P R Sundar 🌹
@architgemini9411
2 жыл бұрын
PR Sundar Sir, if turnover is less than 10 crores, profit < 6% and total income > basic exemption limit(2.5lacs), then audit is necessary. You said no audited needed, but i can't find any link, please provide source material and clarify.
@TaxBuddy
2 жыл бұрын
Pls see finance act 2021. Thanks
@cleetuseb
2 жыл бұрын
You are right bro. Total income means. You need to consider your income other than derivative tradind. And if your total income is greater than basic exemption limit the audit is compulsory. Even if you're loss in your derivative trading.
@Vidyasagarbb
2 жыл бұрын
No, you are wrong. if your turnover is less than 10 crores, do not opt for Presumptive taxation (in case turnover is less than 2 crores) in which case, the audit is not mandatory.
@architgemini9411
2 жыл бұрын
@@Vidyasagarbb sir you're right except one case. The only thing needed for audit is turnover > 10cr, except the following exceptional case: If i'm following presumptive taxation in last year filing and i choose to opt out of presumptive taxation, then i can't go back to presumptive tax for next 5 years. And in the year i drop out of presumptive taxation, i'll have to get audited (regardless of turnover) as long as my total income is more than basic exemption limit of 2.5 lacs. Kindly correct me if i'm wrong.
@Vidyasagarbb
2 жыл бұрын
@@architgemini9411 nope. You are wrong. If you break out of presumptive taxation, you will not be able to go back for next five years but there is no rule that you should get audited in the year in which you dropped out of presumptive taxation. Once, you drop out and not use presumptive taxation, your limit of tax audit is governed by normal rules of 1crore for business turnover which is increased to 10 crores if your cash receipts / expenses are less than 5% of the total receipts / expenses.
@HarishKumar-tj2sq
2 жыл бұрын
Many thanks sir for inculcating the knowledge. Could you please clarify the below 1) Can salaried person with F&O trading income file presumptive taxation? If yes, is salary income also comes under presumptive taxation? 2) audit limit is 10 cr turnover through banking channel. I do all my payments to zerodha through google pay to avoid transaction charges. So, does UPI transactions treated as banking channels or not? Also, can we have example of non banking channel?
@naveenshah2159
2 жыл бұрын
I'm pursuing CA. So hope I can help you with this. Salary is separate income where you cannot claim any deductions except few. So salary is gross. But fno income is business income where you can claim deduction of expenses. So the 6 or 8 % is only on fno turnover and not total income(salary+fno). Example of non banking channel is simply cash transactions. But note that cheque is considered as non cash only if it is ac payee cheque.
@HarishKumar-tj2sq
2 жыл бұрын
@@naveenshah2159 many thanks for clarification
@naveenshah2159
2 жыл бұрын
@P S yes u can
@JAGINI2222
2 жыл бұрын
Should be explained even deeper like from lkg to pg
@Nse360Sikkankr_1M
2 жыл бұрын
Good information.
@cavinlobo5969
6 ай бұрын
If F&O gains are more than 6% of the turnover, Can one use Presumptive taxation to save tax. For example ... if the gains from F&O is 10lacs and the turnover is 30lacs, can i opt for Presumptive tax and pay tax of 6% on 30lacs i.e. 1.8lacs.
@canaveenkumar8105
2 жыл бұрын
Hello boss from presumptive there is one more condition You should not have income more than 50 lakhs from other than business .
@Gearboxes
2 жыл бұрын
Big problem most of Govt Employee don't know English so this statement is like out off from their head and I am one of that since I know English also but it is just bounce. जादातर सरकारी कर्मचारियों को हिन्दी आती है अंग्रेजी नहीं इस कारण से जो भी बात प्रथम प्रश्न के लिए कही गई ओ अधीकतर को समझ नहीं आयेगी मुझे भी पुरी समझ नहीं आई जबकी में कुछ अंग्रेजी जानता हूँ।(जो अंग्रेजी नहीं जानते वो भी श्री सुंदर जी के फॉलोवर है कृपया अन्यथा न ले)
@sandeeppareek883
2 жыл бұрын
Really very helpful knowledge
@enoshgaddam
2 жыл бұрын
Sir Thanks for sharing Great knowledge
@Arunpalapattu
2 жыл бұрын
Good initiative sir
@TonyMangaly
2 жыл бұрын
Can we carry forward the losses in options? And how can i adjust losses, against cash mkt or options only? Speculative against speculative profit only?
@the_mants
2 жыл бұрын
How to file Presumptive Taxation in ITR3?
@harishkumarramappa5094
2 жыл бұрын
Covered call , we get profit in stock and loss in options, how is it considered together or capital gain and option loss are to be considered separately for tax calculation
@abhishekgoyal3446
2 жыл бұрын
While audit is not mandatory if your turnover is below 10cr and you have sustained loss. Income tax website is not allowing you to file ITR 3 with loss and without audit. This was not the issue in old income tax website. Before passing on the information, would have been helpful if he had checked this.
@kishorereddy3888
2 жыл бұрын
Have you filed ITR 4 earlier?
@vignesh46fpaqibdo
2 жыл бұрын
sir need video - how to trade options in delta exchange ?
@rameshvizag.
2 жыл бұрын
Many thanks PR SIR
@Tamilpaal
2 жыл бұрын
Option turnover for sellers You absolute profit + absolute loss + premium collected What about option buyers
@arunkrishnaraj8038
2 жыл бұрын
profit+loss only because there is no premium collection
@ak211
2 жыл бұрын
Same
@ArattaTube
2 жыл бұрын
My doubt is if we trade through any big brokers then hopefully they will give P&L statement. So can we simply get the turnover from there. Or do we need to calculate manually?
@souravmandal7527
2 жыл бұрын
Don't send letter to hod. If you intimate them then unwillingly also they have to take action
@pushkarkhamitkar2172
Жыл бұрын
Very nice guidance. I am pensioner and i have 3.50 lacs loss in f and o intraday trading and i got pension 5 lacs . My other income is 2 lacs which is int on my fixed deposits. Can i set off loss from other income and im my case tax audit is mandatory or not. Pl guide.
@mynk87
2 жыл бұрын
Thanks for a very informative video for beginners. I am a salaried person and I have filed ITR-3 for AY20-21 to show my F&O losses in FY19-20. My ITR is processed now but losses are not carried forwarded. I have been informed the reason for that was to maintain books of account is mandatory which is missing in my filed ITR. Is that true, we need to maintain books of account while filing ITR-3 in case of filing F&O losses but not mandatory for showing profits?
@pbhanu95
2 жыл бұрын
I think trade wise P&L will suffice, its available in zerodha.
@ramugurazala874
2 жыл бұрын
Excellent video sir. But missed to ask turnover limit in case of salaried employees. As per many websites if profit is less than 6% and we are paying tax on salary then we need to undergo audit
@PussIntheBootsNinja
2 жыл бұрын
This was my case. taxbuddy itself forced me to go for audit though my turnover is nowhere near 10Cr
@tube4kram
2 жыл бұрын
My turn over less than 2cr and I was also in mild loss, but TaxBuddy didn't recommend audit and filed my ITR very smoothly with them. May be depends on the representative, you can raise complaints, they are very proactive.
@harishv9447
2 жыл бұрын
Salary part is not included in turn over. Turn over applies only to business transactions
@kishorereddy3888
2 жыл бұрын
If you offered income earlier under presumptive taxation and 5 yers not got over i.e you are in 2nd or 3rd year...if you are not offering again under preparation taxation then you should compulsorily maintain books and do audit. He misguided inthis video, I've made my comments with relevant sections and links go through that. But do not hesitate to seek advise from tax consultant.
@kishorereddy3888
2 жыл бұрын
@@tube4kram I think, this is the first time you are offering under presumptive taxation or 5 years you've already declared under presumptive taxation. Is it correct ?
@GuruPrasad-ps1yn
2 жыл бұрын
Kindly bring in how can we offset f&o loss with various heads like ltcg or stcg or any other income. How do we hv to schedule these heads during computation. Looks like salary is not allowed for offset.
@nivruttipatil5500
2 жыл бұрын
Very good information 👌
@fabdulgafoor
2 жыл бұрын
Sir. If we pledge the equity/FD/Mutual fund for trading, is that considered a loan as it is used for trading?
@TaxBuddy
2 жыл бұрын
If you are using margin by pledging shares and then trading in F&O, then that interest is incidental. You can claim it as expenditure.
@parvezmohammad6746
Жыл бұрын
I think now option trading turnover also can calculate same as future trading
@jigneshgala3285
2 жыл бұрын
Nothing mentioned regarding trading turnover ..same day buy sell
@Honest5
2 жыл бұрын
Excellent information
@shaukatsalma3884
2 жыл бұрын
thanks
@sekumadhu6241
Жыл бұрын
Thank you 🚩🙏
@prashantgadekar4541
Жыл бұрын
what if i already obtain 44d for other business last year and no i have loss in fut. And opti. should i get audit
@HiteshPatel-mb8oi
2 жыл бұрын
FOR A 150L T/O, PROFIT IS 120L. CAN I ADOPT PRESUMPTIVE TAXATION ? HOW MUCH TAXE WILL I HAVE TO PAY ?
@pramodshetty5076
2 жыл бұрын
The date for filing returns with Audit (with loss) can be done by Jan 31st ? And still claim the losses next year ?
@gomathisankars68
2 жыл бұрын
Sir please explain options turnover sum of profit and loss nd option premium means only buy value or sell value or both ?
@deepshah6644
2 жыл бұрын
Very useful tysm
@yashaglave3779
2 жыл бұрын
Wow very helpful sir
@koushiknaidu2047
2 жыл бұрын
please include for cash equity taxation rulses please please please please please
@546balvinder
2 жыл бұрын
Can a govtcemployee do stock investing??? Rather trading
@Bnrar55
2 жыл бұрын
Suppose loss is just 50k in trading for new retail investor .. cn we file ITR 1 and if yes where cn we claim tht loss
@manupandit3864
2 жыл бұрын
Fantastic fantastic service mr sundar. Thoroughly appreciate for this mind blowing session
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