Future and option trade

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hemlata p. soni (Querist)
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25 August 2019 MY CLIENT HAVING F&O TURNOVER 6182516/- AND LOSS FROM F&O 108000/-. MY CLIENT IS HAVING TUTION INCOME OF RS. 238000/- AND FD INTEREST IS 25000/- THAN HOW TO FILE HER RETURN. WHETHER SHE HAS TO GET HER ACCOUNT AUDITED. PL GIVE URGENT REPLY

Shankit Sharma

Shankit Sharma (Expert)
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28 August 2019 If you want to carry forward the loss form F&O then you should file ITR-3.

If Total income dose not exceeds the maximum amount which is not chargeable to income-tax then no audit required.

and If total income exceeds and Profit is less then 8%/6% (as the case may be) then audit is required to be done.

Thanks
CA Shankit Sharma
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