Books of accounts for Traders for tax filing

Hello , could you start classes on “books of accounts to be maintained by a trader?”

Doesn’t matter if its paid or free, i will join.

I know basic accounting and basic tally.it will be a big help if Quicko helps. Please start one asap.

Thank you for you suggestion @Raj_Thom.
We have articles which you can refer to understand more about how books of account can be prepared.

If we venture into classes, we shall surely let you know. :blush:

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Any updates on this.

Hi @Raj_Thom, this is in our long term pipeline and hence we aren’t working on this with immediate urgency.

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I had a small buisness last year, i filed itr under presumptive taxation, this i traded in fo intraday and equity,So now I need to file this year itr, whether i need to maintain books of accounts for only f&o or i need to maintain books of accounts for f&o intraday and equity .
I had profit in small buisness but lossess in all other trading buisness.

Hi @Manjunatha_P.N

If you have engaged in trading activities involving F&O, intraday, and equity trading, you are required to maintain books of accounts under the regular taxation scheme as all are considered under business income. This applies regardless of whether you have made a profit or incurred losses in this trading business. Additionally, books of accounts include broker statements.

If you continue with the presumptive taxation scheme this year then you won’t be set off and carry forward your losses.