Sir my friend is goverment servant and also tax payer and last year he joined share market and made a loss of 12000 but his transitions of buy and sell is near 5 crore than need to audit from charter accountant or not please guide sir what to do
Hello Sir, I never had commented on anyone's video on RUclips before, but this is my first, i am commenting on your Video, because, I really liked how you made complex wordings into much more simpler and understandable context, sir, Fan ho gya aap ka.
Sir iska matlab mein sir silver mein trade kadta hu future mein Mera bohot stt ja raha hein agad yr end pein Mera profit hua and mein i.t file Kiya to Kaya usme stt charges ko deduct kad sakta hu sir ????
Please make video on taxation of listed bonds , Gold ETF and SOVEREIGN GOLD BOND . SOVEREIGN GOLD BOND ko secondary market ( exchange )se buy karne par short term and long term capital gains kitne time hold karne par hota hai . Thanks a lot sir ji
Hello sir, thanks for informative video. One question:- In last part of video you mentioned tax audit on commodity transactions. Sir please clear me that 1 crore turnover is of buying selling price or is of profit losses we make as, Traders who deal in commodity Market, they are easily able to generate such turnover in a month.
If delivery based transactions then 2 crore plus may be one criteria, however for non-delivery (say MCX transactions etc) limit of 1 crore may also apply. However pls refer the following link for other important points: ruclips.net/video/CMyiXSGyHbU/видео.html
@@CAAnoopBhatia Got it sir, Sir please clear me that turnover is of buying selling price or is of profit losses we make as, Traders who deal in commodity Market, they are easily able to generate such turnover in a month.
Hello Sir! Your videos are very informative. I have 2 questions. 1.Does intraday Gold trading P/L gets added to intraday income or not ( from incometax point of view) 2. Can mutual fund gains can be adjusted against the losses in shares. ( from incometax point of view). Please explain these. It would be of great help. 🙏🏻
If gold trading is in form of derivative transaction then intraday shall be non-speculative. Losses in share may be adjusted against mutual fund gains in my opinion.
@@CAAnoopBhatia Thanks so much sir for responding.. 🙏🏻🙏🏻 Sir, I dont have much knowledge about the technical terms. I had traded in 3 times in 100gms of gold ( intraday with leverage) through a brokerage house and sold the same after loss as I didn't had the money to hold it. Will this loss also be considered intraday loss and gets added to intraday income /loss?
80G k liye adjustment gross total Income nikalane ke liye 80c se 80u deduct karte hain. To kya standard deduction aur section 10, section 24 ki exemption Ko bhi dedcut karna hai ya nahi?? adjustable gross total income nikalane ke liye.
Hi sir silver me 15 din me mera 4 cr ka turnover huva hai aur profit 16k hai to tax lagega ya nahi Agar sal bhar me 50 cr ka turnover ho gaya aur 5 lackh ka profit huva to tax kitana lagega
सर मान लीजिए मैं ₹100 रुपए में टर्न ओवर कर रहा हूं सिल्वर मैं साल भर में 10 करोड़ के ऊपर टर्न ओवर हो गया है और कमाई मात्र 50,000 हुआ तो कितना टैक्स लगेगा कि नहीं
Just so informative
Thanks a lot Sir for the useful information
Most welcome
Sir, very informative viedo
Thanks.
Very Useful knowledge about Commodity Trading ..Thanks Sir
Most welcome and thanks for kind appreciation Sir.
very informative video
Glad you think so Santosh bhai.
Very good explanation Sir 👏
Thanks and welcome
Hello sir ( can i. Show my commodity transaction profit and loss in 44 AD and how to calculate turnover in commodity transaction
In my opinion commodity transactions are not 44AD covered.
👍बहुत सुंदर व्यवसायिक जानकारी दी है !🙄
Thanks :)
Thank you so much sir 💯
Welcome.
Thank you for the short and crisp video. It gives a bird's eye view of Commodity Trading taxation. God bless 🙏🙏
Thanks for kind appreciation and best wishes.
Sir my friend is goverment servant and also tax payer and last year he joined share market and made a loss of 12000 but his transitions of buy and sell is near 5 crore than need to audit from charter accountant or not please guide sir what to do
Sir I am bank employ can I file itr2 along with commodities profit natural gas
For commodities transactions ITR-2 or 3 may be filed.
How is turnover calculated and considered in tax calculations for commodity trading . Please elaborate.
It's a sum of absolute amounts of gains / loss under various transactions.
Sir what is the meaning of turnover here?? Bcz in commodity market 1 cr turnover is not a big deal. 1 kg gold buy and sale = 1cr
If I assume only margin is paid then only the absolute profit / loss together in all transactions will become part of turnover.
Thanks Sir
Welcome :)
Can i file itr 4 on commodity trading??
Prima facie no.
🙏🏼🙏🏼🙏🏼 useful information sirji
Thanks Shashikant bhai.
Hello Sir, I never had commented on anyone's video on RUclips before, but this is my first, i am commenting on your Video, because, I really liked how you made complex wordings into much more simpler and understandable context, sir, Fan ho gya aap ka.
Thanks and welcome Manish ji. It's my pleasure to receive such comment.
Sir iska matlab mein sir silver mein trade kadta hu future mein Mera bohot stt ja raha hein agad yr end pein Mera profit hua and mein i.t file Kiya to Kaya usme stt charges ko deduct kad sakta hu sir ????
Prima facie yes you may claim if you offer as business income.
@@CAAnoopBhatia ok thank u sir
Intraday me tax kitna lgta he trading krne pr commodity pr
At slab rate in case of individual.
Please make video on taxation of listed bonds , Gold ETF and SOVEREIGN GOLD BOND . SOVEREIGN GOLD BOND ko secondary market ( exchange )se buy karne par short term and long term capital gains kitne time hold karne par hota hai . Thanks a lot sir ji
Sure I will try soon.
@@CAAnoopBhatia please make video on these topics
Hello sir, thanks for informative video.
One question:-
In last part of video you mentioned tax audit on commodity transactions. Sir please clear me that 1 crore turnover is of buying selling price or is of profit losses we make as, Traders who deal in commodity Market, they are easily able to generate such turnover in a month.
If delivery based transactions then 2 crore plus may be one criteria, however for non-delivery (say MCX transactions etc) limit of 1 crore may also apply. However pls refer the following link for other important points:
ruclips.net/video/CMyiXSGyHbU/видео.html
@@CAAnoopBhatia Got it sir,
Sir please clear me that turnover is of buying selling price or is of profit losses we make as, Traders who deal in commodity Market, they are easily able to generate such turnover in a month.
Hello Sir! Your videos are very informative.
I have 2 questions.
1.Does intraday Gold trading P/L gets added to intraday income or not ( from incometax point of view)
2. Can mutual fund gains can be adjusted against the losses in shares. ( from incometax point of view).
Please explain these. It would be of great help. 🙏🏻
If gold trading is in form of derivative transaction then intraday shall be non-speculative. Losses in share may be adjusted against mutual fund gains in my opinion.
@@CAAnoopBhatia Thanks so much sir for responding.. 🙏🏻🙏🏻
Sir, I dont have much knowledge about the technical terms. I had traded in 3 times in 100gms of gold ( intraday with leverage) through a brokerage house and sold the same after loss as I didn't had the money to hold it.
Will this loss also be considered intraday loss and gets added to intraday income /loss?
Good evening sir if total turnover under 1 cr and loss made in this head and other total income under 250000. Audit applicable or not?
Prima facie in my opinion audit is not required. However, if you have previously availed 44AD benefit then tax audit may be applicable.
@@CAAnoopBhatia THANK U SIR, I'M BIG FAN YOUR EXPLANATION & KNOWLEDGE.
@@CAAnoopBhatia sir
80G k liye adjustment gross total Income nikalane ke liye 80c se 80u deduct karte hain.
To kya standard deduction aur section 10, section 24 ki exemption Ko bhi dedcut karna hai ya nahi??
adjustable gross total income nikalane ke liye.
सर मेरा बाय एंड सेल कमोडिटी टर्नओवर डेढ़ करोड़ का हुआ है और लास27000 का हुआ है तुम मुझे क्या टर्नओवर टैक्स देना पड़ेगा
There is no concept of turnover tax as such.
Sir, Can you please explain the Taxation of Trade Unions or is it exempt under Income Tax Act? Any type of audits are applicable to it ?
sir if we go for section 115BAA can we claim deduction under 80G? for AY 2021-22
U/s 115BAC if you avail option under new slab then you can't claim deduction u/s 80G.
@@CAAnoopBhatia sir nd wat abt BAA
Hi sir silver me 15 din me mera 4 cr ka turnover huva hai aur profit 16k hai to tax lagega ya nahi
Agar sal bhar me 50 cr ka turnover ho gaya aur 5 lackh ka profit huva to tax kitana lagega
You should avail help of a CA nearby you who may guide you based on the exact facts and turnover computation.
Sir kya commodity (mcx) trading ke liye GST registration hona chahiye? Ya f&o (nse) ki tarah iski jarurat nahi hai?
Replied same query of yours elsewhere, pls refer.
सर मान लीजिए मैं ₹100 रुपए में टर्न ओवर कर रहा हूं सिल्वर मैं साल भर में 10 करोड़ के ऊपर टर्न ओवर हो गया है और कमाई मात्र 50,000 हुआ तो कितना टैक्स लगेगा कि नहीं
Tax would not be payable but tax audit will be required.
Sir maine silver mai trading kra tha usme mujhe bhout jaada loss hua tha toh usse mujhe kaise dikne hoga itr mai
You may file ITR-3 in which you may show such losses for carry forward.
@@CAAnoopBhatia ohk sir thanks for replying.
Sir mujhe mcx (commodity) me profit hai aur f&o derivatives (nse) me loss hai. to ye dono apas me set off honge ya nahi?
yes in my opinion.
Nahi...set off nahi honge
Turnover in commodity transaction
Thanks sir very good information. 👍
Welcome to both of you.
Mcx crude oil ke profit per Kitna tax Dena Hota Hai Agar Ek Saal Mein 5 lakh ka profit Hai To
Slab rate in my opinion.
Turnover limit is 10 Cr for FY 20-21 also , Please correct
Right.
👍बहुत सुंदर व्यवसायिक जानकारी दी है !🙄
Dhanyavaad :)
Can we file itr 4 on commodity trading ?
In my opinion you should file ITR3