F&o loss
This query is : Resolved
17 June 2019
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
17 June 2019
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”.
Loss from business and profession cannot be set off against income chargeable to tax under the head “Salaries”.
17 June 2019
THANKS FOR REPLY SIR. IF I DISCLOSE IN BUSINESS LOSS, SHOULD I PREPARE PROFIT & LOSS A/C AND BALANCE SHEET ALSO?
17 June 2019
Not required as turnover low file it under no account case.
17 June 2019
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Article ship defecit
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
