30 August 2015
Salary = 10 lacs Derivative loss= 9.3 lacs Turoner = less than 1 crore Whether tax audit necessary as total income less than exemption limit Or since loss can be carried forward, it will not be considered for the purpose of total income and tax audit will be applicable
30 August 2015
You can't adjust the business loss against salary income, carry forward for adj. in future. As your income exceeds basic exemption limit tax audit is required.
CAclubindia
