Category Taxation

Tax Audit in India 2022

What is Tax audit The term ‘audit’ refers to a check, review, verification or inspection of a record, transaction, account etc. A tax audit is the process of verification and inspection of the accounts of a taxpayer to confirm their…

Futures and Options taxation

Futures and Options taxation

How to compute Income from Futures & Option Trades? Any profit or loss incurred from trading in future & options is considered as BUSINESS INCOME and is shown under the head “Income from business or profession” in the ITR. It…