Are you Retail Trader? New method to save tax

[@CapitalZone]

DESCRIPTION Mr. Jegathesan Durairaj (itjegan) is a professional Option trader, strategist, Expiry trader, Trainer, and Investor. He is a mathematician by qualification, an Ex-software professional, and now a full-time Risk Defined Option Writer. With his Open Book Strategies, he is the most known identity on Twitter as IT Jegan, with huge followers. He has won 12 times on the Zerodha platform. He founded his own firm CapitalZone in the year 2018. For Live Trades & Market, analysis Join my Telegram channel for Free Search ITJegan in the Telegram app & follow @ITJegan on Twitter t.me/itjegan --------------------------------------------------------------------------------------- Discount Offer for Tradingview, Sensibull , Tradetron & RIGI Subscription, click here. Trading view subscription link: www.tradingview.com/?aff_id=108713&aff_sub=capitalzone&source=itjegan Tradetron subscription link: www.tradetron.tech/?ref=capitalzoney Sensibull Subscription link: pages.razorpay.com/itjegan To Subscribe ITJEGAN's Intraday Straddle - Intraday Option Recorded Course, Link : rigi.club/courses/sm0WF2BCkW --------------------------------------------------------------------------------------- To Open a Trading and Demat Account, you can use the below link, Alice Blue: abopening.online/CAPITALZONE/ Motilal Oswal: mosl.co/RW4fcbAU13 IIFL: cutt.ly/XXn45qD Zerodha: zerodha.com/open-account?c=ZMPSLL ---------------------------------------------------------------------------------------- Subscribe to CapitalZone : kzbin.info Subscribe to our தமிழ் Channel CapitalZone: kzbin.info/door/ke6ygIkcouKm7R3nLSyalA ---------------------------------------------------------------------------------------- WORKSHOP DETAILS: Conducting workshops in all Metro Cities (Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Kerala, and Coimbatore) is often based on queries from Traders. 👉Topics: capitalzone.in/topics/ 👉Enroll Here: rzp.io/l/G1rrn8PO 👉Schedules: capitalzone.in/schedules/ ---------------------------------------------------------------------------------------- For Trading Account Opening and Other financial services, can reach us at: Phone\Whatsapp\Telegram: [phone] Free Telegram Channel: t.me/itjegan Twitter: twitter.com/itjegan/ Facebook:facebook.com/capitalzoneitjegan LinkedIn:www.linkedin.com/company/capi... Instagram: instagram.com/capitalzone_itjegan/ Website: www.capitalzone.in/

[@Naveenkumar-ux5wb]

Tax Audit applies only when Turnover crosses 10Cr not 5Cr

[@rageshgr]

Welcome change !

[@AkshayGowda007]

jegan sir, i have profit of 90k turnover is 2 lakhs, normally i should pay tax for 90k. if i go for 44ad can i declare income as 6%of 2 lakh =12000? also no auditing is required?

[@ssindwani]

tax audit in cases of losses or profit

[@ssindwani]

So if your turnover is

[@grv1007]

agreed

[@tarakeshnc7417]

In presumptiive 44AD mode.. it is min. 6% or actual whichever is higher.

[@AnilKumar-et5nd]

Thanks Jegan A small question Who can opt for 44ad ? Salaried, non salaried, huf etc. Plz clarify

[@CapitalZone]

The benefit of section 44ADA can be taken only by those specified professionals whose annual gross receipts are under Rs 50 lakh.

[@AnilKumar-et5nd]

@@CapitalZone Thanks for the quick reply. I myself is a small retail option trader with no job and other business. My this financial year turnover(absolute profit + absolute loss) is below Rs 50L But profit is above 20% of the turnover Am I eligible to opt for 44ad, as I am not any kind of professional person. A simple retail option trader only.

[@CapitalZone]

Yes, retail Option traders are eligible to opt 44AD, if the turnover is more than 6% for more info kindly reach us at [phone] via Call/ Whatsapp

[@somsharma9217]

In 44AD, under which section we can trading as business.. I mean to ask what type of business..

[@jigneshpatel3177]

Profit or Loss and Turnover > 10cr = Audit Loss and Turnover < 10cr = No audit but need to maintain books of accounts to c/f loss (can't use Presumptive Income 44AD) Profit < 6% and Turnover < 10cr = No audit but need to maintain books of accounts (can't use Presumptive Income 44AD) Profit >= 6% and Turnover < 10cr = No audit and can use Presumptive Income 44AD I tried to cover all scenarios above. Let me know if anyone is missing

[@desiganjayaraman8285]

We cant use presumptive tax 44ad if turn over is more than 2 cr

[@ramparashar]

When there is loss so why tax auditing is must, I do not understand

[@raghuk3141]

Hi sir On of the useful Great video

[@rajashekarreddy4912]

Plz do one video on "Books of accounts" maintenance (for retail traders)

[@pratikbiswas2393]

No books of accounts required if you go for presumptive taxation u/s44AD, where you declare minimum 6% of the Turnover. Now this was the most awaited changes that we option trader was looking for a very long time.

[@mohankapila7764]

SIR It Is For Persumtion Only ONE may Go For 44Aa sir

[@AbhishekSharma-er2rd]

Mr Jegan, why arent you replying to Gopal Krishnan comment. Please clarify on that.

[@nitinsubudhi5158]

TO for audit is10cr not 5 cr

[@vikasjain2193]

once u used 44AD, u have to use it for next 5 years. you can't go back.

[@mohankapila7764]

SIR when There Is Provision Of 44Aa Why One Will Go For 44Ad This Section Is for Those Who Dont Want To Fill The Balance Sheet Only 5%trader Earn 6% please advice

[@xamanikia13]

Bye t for retail what expenses can we put?

[@ajairandhawa1848]

Good news on not adding sales value however u missed t/o is 10 crore in case 44 ad was not used before or for the next return no audit requirement

[@lakshyajhamnani8407]

You're giving wrong information jegan for 10cr the audit is compulsory not 5cr

[@msanthanam1]

If someone is finding so much time to explain so much in detail what is a simple high school accounting, I am having a feeling, turn over (and profit) for Capital Zone founder is from making you tube videos not from trading profits + losses (absolute value as explained 😅).

[@ahardikp]

This calculation is only in zerodha or all broker ???

[@ronakpatel7550]

👍

[@yashgarg7170]

Sir this is completely wrong interpretation of the income tax provision. There is no requirement of audit even in case of loss and turnover less than 10 crore (if 95% transactions are through banking channel). In section 44AD mentions that profits of the business is deemed at 6% or sum higher than that shall be considered income of the person. In case of trading where profits are easily determinable one has to show actual profit in case of margin higher than 6%

[@StraddleRaja]

Absolute Summation of profit and loss is abs(profit + loss) Summation of absolution profit and loss is abs(profit)+abs(loss) There is a difference here. Pls clarify. And needles to say as always very well explained 👍

[@MohitErande1]

From now this rule is applicable

[@padmanabhanr4242]

Has this become a rule or is it in discussion?

[@jus6muf]

Sir 1 lack profit unte audit submit cheyala

[@dpkumar81]

10 cr is for audit

[@rahulmars]

I am a CA if you follow this you will get love letter from the department 😂 please don't follow this

[@shuvojitsadhukhan5210]

wrong Information. For Option trading Turnover is 10 crore for Audit applicability

[@jus6muf]

Sir year ki entha profit unte audit submit cheyali

[@bhanuprakash600]

@@jus6muf nuvvu adigedi vaallaku artham kadu .. try to ask in English

[@raghuk3141]

He Tamil person Not Telugu How he understand your English telugu

[@mohankapila7764]

NO Reply Till Date Sir

[@CapitalZone]

For queries, chat here: t.me/capitalzone

[@AdityaEnergySolutions]

Sir, we know why you laughed at 6% declaring profit. If any person gets caught using 6% profit he will paying double tax with interest. So use only at your concern. No good practitioner will allow to use 6% rate.

[@pratikbiswas2393]

This is called Tax planning and not tax evasion, you just have to read the income tax act 1961 to make use of it. Under 44AD govt is allowing to declare min 6% of your turnover and rest 94% of turnover is what govt will consider as expenses of the businees.

[@AdityaEnergySolutions]

@@pratikbiswas2393 looks like you didn't read law, expanses means you have to pay money to others but your bank balance says otherwise. My friend if they noticed you are at dead end

[@nokiak4095]

@@pratikbiswas2393 yes right .but jegan misleading as turnover must be below 2cr not 5cr incase of section 44ad....

[@pratikbiswas2393]

@@AdityaEnergySolutions oh common man now are you going to teach me what taxation lawas says😀, CA ka paper first attempt mai clear kiya hai. Moreover to you context that while claiming expenses you must have transactions reflect to the bank statement, you fool 44AD gives you relieve to maintain books of accounts.

[@pratikbiswas2393]

@@nokiak4095 after budget finance act 2020 amended that if the transaction are digital then 5cr will be considered instead of 2cr limit for availing 44AD.