Sir,
I am regular speculator in NSE & BSE . I want to know how to calulate the derivatives gains/loss for Income Tax purpose ( STT ?, brokerage?service tax ? stam duty?) , it's bussiness income ? If a houswife can do it,then how much profit she exempted ?. whther it clubs to short or long term capital gain/loss ?. if derivatives turnover is 700 lakhs per year then the audid is necessary ? & what are various the penalties for e.g if A.O found 1000 rs. descrepancy in carry forward set up?. regards