CCI Online Learning
What do you want to learn today?
     
CIBIL

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

F&o loss

This query is : Resolved 

ONE OF MY CLIENTS EARNING INCOME OF Rs.10 LAC UNDER THE HEAD SALARY. AND ALSO INCURRING LOSS OF Rs.43,000 FROM F&O. HOW TO DISCLOSE THIS LOSS IN IT RETURN. PLEASE GUIDE ME


Disclose this as business loss and carry forward.
Loss from business and profession cannot be set off against income chargeable to tax under the head “Salaries”.

THANKS FOR REPLY SIR. IF I DISCLOSE IN BUSINESS LOSS, SHOULD I PREPARE PROFIT & LOSS A/C AND BALANCE SHEET ALSO?

Not required as turnover low file it under no account case.

CAN I FILE ITR-3 WITHOUT P&L AND BALANCE SHEET?


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


Click here to login now



Similar Resolved Queries :





Trending Tags
epfo
esic
traces
tin nsdl
companies act 2013
audit
aatmanirbhar bharat
cag
gst portal
icai
gst
eway bill
ca exams may 2020
gst council meeting
pm cares fund
taxpayers
corporate law
llp
Service Tax
cbdt
custom
Union Budget
itc
close
GST Live Class