Audit of F and O T/O
This query is : Resolved
31 October 2025
Respected Sir
F & O Transactions
Option T/O- 28 Lakh
Total Sales- 2.74 Crore
Total Purchase- 2.80 Crore
Total Charges- 1 Lakh
So., Total Loss - 7 Lakh
To Claim loss of 7 Lakh For the A.Y. 2025-26
How to Show this entries in P&L
1. Show Sales and Purchases and expenses
or
2. Without Showing Purchase and Sales , Directly Show Loss From F & O Transactions- 6 Lakh
and Other Charges - 1 Lakh
F & O Transactions
Option T/O- 28 Lakh
Total Sales- 2.74 Crore
Total Purchase- 2.80 Crore
Total Charges- 1 Lakh
So., Total Loss - 7 Lakh
To Claim loss of 7 Lakh For the A.Y. 2025-26
How to Show this entries in P&L
1. Show Sales and Purchases and expenses
or
2. Without Showing Purchase and Sales , Directly Show Loss From F & O Transactions- 6 Lakh
and Other Charges - 1 Lakh
31 October 2025
1. Show sales & purchases with expenses details.
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31 October 2025
Sir
Client is Homeopathy Doctor and Gross Receipt is 12 Lakh and Taxable income is 7 Lakh
If we Dont Show F and O Transaction and Loss of their and Only Show Professional Income u/s 44ADA
is there any Significant Problem ?
Client is Homeopathy Doctor and Gross Receipt is 12 Lakh and Taxable income is 7 Lakh
If we Dont Show F and O Transaction and Loss of their and Only Show Professional Income u/s 44ADA
is there any Significant Problem ?
Message likes :
1 times
31 October 2025
Based on AIS reporting by the trading agency, enquiry will be raised from ITD & same will be seen under suspicious angle as the volume is around Rs, 3 Crs.
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02 November 2025
Ok
Thanks a lot sir For replies
Thanks a lot sir For replies
02 November 2025
You are welcome.
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08 November 2025
Respected Sir in this Case Audit is applicable or not ?
asseessee filed his return from A.Y. 2015-16 to A.Y. 2019-20 under 44ADA (ITR 4 ) and
From A.Y. 2020-21 to A.Y. 2024-25 Under Audit ITR3 (44 AB(d) )
in A.Y. 2024-25 there Was also Loss of F and O - 5 Lakh Rs.
So For A.Y. 2025-26 is Audit Mandatory to Claim Loss of F and O ?
asseessee filed his return from A.Y. 2015-16 to A.Y. 2019-20 under 44ADA (ITR 4 ) and
From A.Y. 2020-21 to A.Y. 2024-25 Under Audit ITR3 (44 AB(d) )
in A.Y. 2024-25 there Was also Loss of F and O - 5 Lakh Rs.
So For A.Y. 2025-26 is Audit Mandatory to Claim Loss of F and O ?
09 November 2025
Tax audit not applicable, just books of acc. are required to be maintained. But now you cannot carry forward F&O losses as the date to file ITR u/s. 139(1) has expired.
09 November 2025
Assesee is Partner in Partnership Firm (Hospital) where Partnership Firm are under audit and he is received Professional Income subject to TDS under 194J
09 November 2025
In that case you have time to claim it by this month end. Good luck...
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