Tax Audit
This query is : Resolved
MAKARAND DAMLE
(Querist)
06 December 2020
In f Y 19-20 assessee was having business of trading in shares and also in Futures & Options. Combined profit and loss account has been prepared for both activities
In futures and options assessee has suffered loss and hence audit report u/s 44AB needs to be submitted
In tax audit report in form 3CD item no 40 - turnover and profit figures do i need to state figures of both activities or only F & O activity ?
In futures and options assessee has suffered loss and hence audit report u/s 44AB needs to be submitted
In tax audit report in form 3CD item no 40 - turnover and profit figures do i need to state figures of both activities or only F & O activity ?
07 December 2020
All details of both activities to be there in Form 3CD. You should prepare a consolidated balance sheet and profit / loss account also.
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