Pls confirm,Is this right??
IT department doesn’t care if you get books audited or not, they care if you are paying taxes or not. Also, IT department doesn’t have a guideline on how to calculate turnover.
So,in this example of mine-
I bought 2 lots Banknifty 19000PE @ 110
and sold 2 lots @ 135
If I only take the P&L side, so only Rs 2000 is my turnover,yeh bhi chal jaayega.