Begin with Sharekhan's Tax P&L Report, detailing trading income.
Categorize income types: equity, mutual funds, derivatives as business income.
Determine appropriate ITR form: ITR-2 for capital gains, ITR-3 for business income.
File before due dates: July 31 for non-audit cases, Sept 30 for audit cases.
Explore Tax Audit thresholds under Section 44AB of Income Tax Act.
Calculate turnover including all trading transactions for audit applicability.
Ensure compliance with amended turnover limits and cash transaction norms.
Note: Tax liability depends on total taxable income including business profits.