Derivative trading
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2016
One of my Client was involved in Derivative Trading, and suffered a Loss, My Quesry is How to Take in Filling I.Tax Return, He is salaried Employee, but Total Turn Over involved More Than RS 1 Crore, My Query is
1. Whether he will Come under Purview of Audit U/S 44AB
2. How it will be Filed in I.Tax return
1. Whether he will Come under Purview of Audit U/S 44AB
2. How it will be Filed in I.Tax return
23 May 2016
find out the MOD value of the derivative transactions. (Only positive difference) if the same exceeds the turnover limit of 12 crore, then tax audit becomes applicable.
26 May 2016
assuming the turnover computed as per ICAI guidelines for derivative transaction exceed Rs 1 cr, kindly do the following:
1. ask the client to get a DSC
2. Complete that tax audit as per ICAI guidance note on tax audits
3. File ITR-4. Include Salary in Salary sheet itself.
1. ask the client to get a DSC
2. Complete that tax audit as per ICAI guidance note on tax audits
3. File ITR-4. Include Salary in Salary sheet itself.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
