01 October 2021
Assessee deals in Bank Nifty F & O Business - sales Rs.1,49,843/- and purchases Rs.1,65,811/- Loss Rs.15,968/- He also deals in Commodity (same day square off) - sales Rs.3,34,43,668/- and purchase Rs.3,40,49,689/- Loss Rs.6,06,021/- Total from both activity sales Rs.3,35,93,511/- and purchases Rs.3,42,15,500/- Loss Rs.6,21,989/-
My questions are whether both above activities can be shown as business - Trading in F & O and whether Tax Audit report is required ?
CAclubindia
