27 March 2020
I AM TRADING IN EQUITY SHARE FOR FY 19-20. I AM NOT TRADING FOR INVESTMENT PURPOSE. IN THIS YEAR I AM PURCHEASE @RS.6724913/- SHARES & SALES @RS.6580129/- TOTAL LOSS IS @RS.144784/- & MY PROFESSIONAL INCOME IS 584000/- 1-CAN I SET OFF SHARE LOSS IN MY PROFESSIONAL INCOME - BECAUSE I AM TRADING ONLY 2- IF SHARE TRADING IS BUSINESS THAT TIME TAX AUDIT IS APPLICABLE BECAUSE TRADING PROFIT IS BELOW 8&
27 March 2020
1 Intra day trading is speculative so set off not possible with other sources. Can be carried forward and set off against such income. 2 It's business income hence tax audit applicable.
CAclubindia
