how much profit you have in f n o is it more than 8% of 30 lacs?
Sir, I have salary income of 2.4 lakhs . I did f&o turnover of 30 lakhs with profit of 1 lakhs , interest amount of 40 thousand. So
1) do I have to do tax audit ?
2) if yes , can I get tax audit exemption by investing in PPF for 1.5 lakh to bring net taxable income less than 2.5 lakhs ?
3) if ( salary + f&o profit + interest amount - deductions of 80c ) < 2.5 lakhs , tax audit required ? & How much income tax to pay with above equation ?
Sir, please guide me .
Thank you.
1) do I have to do tax audit ?
2) if yes , can I get tax audit exemption by investing in PPF for 1.5 lakh to bring net taxable income less than 2.5 lakhs ?
3) if ( salary + f&o profit + interest amount - deductions of 80c ) < 2.5 lakhs , tax audit required ? & How much income tax to pay with above equation ?
Sir, please guide me .
Thank you.