F n o transaction
This query is : Resolved
02 June 2018
plz suggest , if f&O actual Losses 70000/-, absolute value of turnover of F&O i.e summation credit and debit value is 200000, then whether tax audit is required ?, as sale profit is below 8% of turnover. if yes then what will i show purchases and sale in the trading or P&L account.
further if there is no other income or if income is less than the taxable income say <2.50lac, but above situation is also exist then in this case return filing and tax audit is mandatory , if i did not want to c/f the losses ?
further if there is no other income or if income is less than the taxable income say <2.50lac, but above situation is also exist then in this case return filing and tax audit is mandatory , if i did not want to c/f the losses ?
07 June 2018
In case the overall income is below the exempted limit, then neither the audit nor return filing is required.
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
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- 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
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
