Suppose in options trading for the whole y1ear the transaction is, buy value= 25,00,000/- and sell value is 46,00,000/-. with a profit of 21,00,000/- and this is the only income. Approximately who much tax will be payable.
Will the turnover be 25,00,000/ + 46,00,000/- ====71,00,000/ .. Does "Turnover" has anything to do while calculating tax amount?
@ Jeet, you wrote '15% of 2100000 =3.15 Lakh.'.... Does this 3.15 lak should be consider as per tax slabs or 3.15 lk is final amt.
THANKS...........TURNOVER TAX, WHATS THAT,