Share trading loss
This query is : Resolved
30 July 2019
Sir,
My total loss from Intra day trading & F & O transaction during FA 2018-19 is Rs.1.70 lac. My total share turnover is Rs.13 lac.
Not eligible for Tax Audit as total turnover is less than Rs.2 crore.
I am having Demat Statement & Shares Intra day trading & F&O statement .
My querry is whether i am required to get accounts audited as income from shares is lower than presumptive rate. Is there any way by which i can escape tax audit on ground of income lower than presumtive rate.
My other income is from salary .
My total loss from Intra day trading & F & O transaction during FA 2018-19 is Rs.1.70 lac. My total share turnover is Rs.13 lac.
Not eligible for Tax Audit as total turnover is less than Rs.2 crore.
I am having Demat Statement & Shares Intra day trading & F&O statement .
My querry is whether i am required to get accounts audited as income from shares is lower than presumptive rate. Is there any way by which i can escape tax audit on ground of income lower than presumtive rate.
My other income is from salary .
31 July 2019
You can escape from tax audit on ground of income lower than presumptive rate provided your income is below taxable threshold.
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