Hi I am trading in Future and Option and also have investment in Shares.
I have loss of Rs 5.6 lacs from trading F&O and turnover is Rs 31.48 lacs (this is sum of profit or loss balance from trading, ignoring negative balance)

Eg: Bought 1 lot of reliance for Rs 1,00,000 and sold at Rs 1,10,000. so loss 10,000 and bought 1 lot of wipro for Rs 2,00,000 and sold at Rs 2,20,000 so profit of Rs 20000. What will be my turnover and total sales and purchase amount to declare in ITR form in this case.

Also I have income as follow
FNO (560,000)
Interest from others 192,500.00
Dividend 22,000
Total income/(Loss) - -3,45,500

Do I need my book to get audit and do Section 44AB or 44AD or 44AA apply to me?
Thanks,
Biraj Patel

Hello,
Can we (the company) capitalize the cost incurred as Administrative Charges which is charged by the Lender Bank to the Asset?
Also, there has been an Pre-EMI payment made to the Lender Bank. So can we capitalize this Pre-EMI cost to Asset?
If not, why? and where to charge the Pre-EMI expense in the books of the company?

sir,can you please explain with an example what is the difference between independence of mind and independence in appearance of an auditor ?

A Medical Professional receives Rs.28 Lakhs as Fees from Profession services(194J) from various hospitals for A.Y.2016-17 on which TDS @10 % - Rs.2.8 Lakhs is already deducted. My query is since the Gross Receipts (Fees from Profession Services) exceeds Rs.25 Lakhs Audit u/s.44AB is to be done. Assessee says he is not liable for Audit u/s.44AB as TDS is already deducted on the receipts and he is ready to pay balance tax as per the I.T. slab rate. whether Assessee is correct?

Is Dislosure in CARO required if we have entered transaction with the related party which is relative during the year, but not at the closing of the financial year and at the date of signing of the audit report?

For Example, Wife of director is partner in ABC firm, During the year 2015-16 purchase of Rs. 5 lacs is made from Firm, but in the february 2016, She is retired from the firm. So now the firm is not in the term of relative u/s 2(77) of the Companies Act 2013. But during the year , Firm is relative. So please guide whether we have to disclose in CARO and Audit Report or not?

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Hiii


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