LOSS FROM F& O
This query is : Resolved
Quick Summary
28 July 2023
If Assessee has loss from F&O in FY 22-23 which is first year of his loss and in previous Financial years he opt for 44AD for his other business(Milk Production) is tax audit u/s 44AB required or he continue to opt for 44AD for milk business and show loss on F&O and set off against Milk Business.
28 July 2023
Tax audit u/s 44AB required.
All business to be combined for 44AD.
All business to be combined for 44AD.
28 July 2023
Can I have a option not to claim loss and set off
28 July 2023
Yes you can do so no problem.
28 July 2023
but in that case audit compulsory or not
29 July 2023
Opt for 44AD audit not applicable.
29 July 2023
If there's loss in f&o and total income does not exceed Rs 250000 can we carry forward loss from f&o without tax audit
29 July 2023
Business and F and O has to be combined and still there is loss it can be carried forward with out audit.
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