1. I don't know if they actually providing one, but I have read that "Zerodha" is providing tradewise turnover report. If you have Zerodha account, check again.
2. I have been trying to find a solution for this for years now, but I haven't found one. Even posted a thread here. I guess it's lot tougher than I/you think. I have been doing this manually till date. It's about few hours work every year.
4. If one is an options scalper, most likely he will hit that 2cr mark easily and if in profit likely that would be less than 8% of t/o.
5. Again, it's not easy for an options scalper.
8. I am not sure about this. Just because salary is more than base limit, we should get our books audited? Doesn't that 8% rule come into play here?
Eg: Salary of 4 lakh and derivative loss of 1 lakh with t/o of 10 lakh.
- 4 lakh (salary alone) is more than 8% of t/o (10 lakh)
- if we club both the income, 3 lakh (4 lakh - 1 lakh) is still more than 8% of turnover (I know we can't set off business loss against salary income, just for the calculation).
@canikhil, Can you clarify this (point #8)? I thought I was clear about this taxation matters, Square nicely confused me here