CAN SOMEONE EXPLAIN ME THE DIFFERENCE BETWEEN AS 18 AND SEC 40 a (2)(b) OF INCOME TAX

sir,
i have done many transactions of future of commodity in silver and jeera. i have made profits in some transactions and and losses in others. pl let me know whether i am covered under tax audit of income tax, also, turnover is full amount of sale of each lot or just net of profit/loss. as net is loss from these, can i adjust this loss against my other business of trading of shoes.
pl guide me accordingly as i have to file my income tax return
thanks.

DEAR SIR
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Thanks

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