Future and option
This query is : Resolved
27 June 2017
dear sir,
my taxable income is below 250000 but i have huge trading in future and option with loss
do i file it return or their is any penalty for not filer?
advance thanks
my taxable income is below 250000 but i have huge trading in future and option with loss
do i file it return or their is any penalty for not filer?
advance thanks
27 June 2017
Trading in F&O cover under the head " Income from Business or Profession". In case of loss/ no taxable income filing of IT return is not mandatory, however if you want to carry forward loss to next year to be set off against taxable income, then filing of IT return before due date is mandatory.
28 June 2017
More over, if the absolute value of profit and loss exceeds Rs. 1 Crore tax audit is also 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
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Reporting Income under Section 44ADA
- U/s 44AD of Income tax
- Difference in tax comparison report
- ITR 1: Details for showing Exempt Income
- 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
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
