Speculation Income-Tax audit aapplicability
This query is : Open
28 July 2017
Suppose for AY1-18 i (individual) hve suffered a speculation loss from transaction in Futures n options. if i want ti claim loss then will tax audit be applicable?
28 July 2017
Tax audit not applicable if you are not having no other taxable income.
28 July 2017
thank u sir. but cud you give any material to read?
28 July 2017
Read the provision.......,...............
29 July 2017
1. Please check proviso (d) of section 43(5) and ascertain that your dealing is speculative or not.
2. In either case , if the absolute value of profit and loss exceeds Rs. 1 crore tax audit is required u/s 44AB(a).
2. In either case , if the absolute value of profit and loss exceeds Rs. 1 crore tax audit is required u/s 44AB(a).
30 July 2017
Okay. thank you very much
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- When TDS on GST applied
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
