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Future and option loss audit compulsory

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(Querist)
20 August 2021 MY REGULAR BUSINESS TURNOVER RS 70,00,000 AND DECLARE 6% PROFIT U/S 44AD
AND F&O AND INTRADAY TURNOVER 158427 AND LOSS 43522 CAN I DECLARE DEEMED PROFIT 6% OF 158427. WITHOUT CARRY FORWAD OF LOSS.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
20 August 2021 Yes, you can do so and also loss turnover no need to report in such a case of trading where GST not applicable.

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