My FnO trading turnover 28lk and profit 23lk. How much tax do I pay under under 44AB?

Anonymous Asked on March 4, 2018 in Taxations.
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ear Mr Mitra

Sec 44 AD traditionally was brought for small business who can’t maintain their books of accounts like small kirana shops, small retailers and small manufacturer as well.
In case of trading in equity it’s organised , you have the correct numbers .. we advise all our clients to file the true profit and if losses we ask them to file with Audit to avoid any litigation.
Calculation in case equity trades are mostly provided by brokers .

In our opinion we should declare the profit earned.

TaxIQ Answered on March 5, 2018.
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