10 July 2023
One of my client has salaried income and doing F&O trading. In the last two FY i.e. FY 2020-21 & FY 2021-22 he has loss in F&O and asked to do Audit. So I audit him under sec 44AB(e).
Now, in the current FY 2022-23 he still have loss in F&O. Is audit applicable or we can file normal return.
10 July 2023
As the business was audited u/s. 44AB(e) for last two years, you have to continue the audit till next three years if there is loss or profit less than 6% of TO.
CAclubindia
