CA certificate required in case of F&O Sales & Purchase

Save Share

This query is : Resolved

Quick Summary

This discussion clarifies the requirement for a Chartered Accountant (CA) certificate when filing income tax returns for Futures & Options (F&O) trading. Generally, a CA certificate is only mandatory for tax audit purposes if your turnover exceeds ₹10 crore, provided payments are primarily through banking channels with minimal cash transactions. For turnovers below this threshold, a CA certificate is typically not required for F&O profits or losses.

Keyur

Keyur (Querist)
Follow

07 June 2024 Sir/Madam

I have little bit confusion that is any requirement of CA Certificate in case of any assessee made F&O on daily basis for filing of income tax return??

Is any statutory limit of profit and loss for getting ca certificate??

please share me any link for detail reading.

thanks in advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

07 June 2024 CA certificate that's tax audit required only in case your turnover exceeds 10 crore as your payment will be through banking channel and cash payment less than 5%.

Keyur

Keyur (Querist)
Follow

07 June 2024 Sir,

mean turnover less than 10 crs out of F&O is not required to get ca certificate for any profit or loss??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

07 June 2024 Yes, you are right....
...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now