Absolute profit refers to the total of positive and negative differences in trading outcomes. There are two primary methods for calculating trading turnover:

In India, businesses and professions span a diverse spectrum, each requiring specific categorization for tax purposes. To ensure accurate classification, the income tax department has established a comprehensive list of business and profession codes.

Tax loss harvesting involves strategically selling shares that have experienced losses in order to offset any realized gains within the same financial year. By doing so, investors can effectively reduce their overall tax liability.

Traders in financial markets encounter various expenses while conducting their business. Understanding which expenses qualify for tax deductions is crucial for sound financial management and adherence to tax laws.