I am a retired person. I have received salary arrears from my ex-employer. I also earned fro LIC varistha bhima yojana and SBI senior citizens savings scheme. But I have incurred losses in NSE futures trading.
1)While arriving at taxable income can all this be combined? If combined I have net loss.
2)I heard that if turnover in derivatives trading is more than 40 lakhs, then book of accounts need to be audited. What constitutes turnover?
3)Whether book of accounts needs to be maintained physically or can it be maintained electronically in PC.
4)Is it necessary to maintain book of accounts as per some format or I can use any format?
1)While arriving at taxable income can all this be combined? If combined I have net loss.
2)I heard that if turnover in derivatives trading is more than 40 lakhs, then book of accounts need to be audited. What constitutes turnover?
3)Whether book of accounts needs to be maintained physically or can it be maintained electronically in PC.
4)Is it necessary to maintain book of accounts as per some format or I can use any format?