Tax audit applicability incase of trading of shares
This query is : Resolved
14 December 2021
Dear Sir,
One of my client has a salary income and loss on sale of shares in Futures and options. Is there any tax audit applicability for a person who does trading in Future and options or Derivatives and has incurred losses.
Please help me in this matter.
Regards,
Divyesh Jain
One of my client has a salary income and loss on sale of shares in Futures and options. Is there any tax audit applicability for a person who does trading in Future and options or Derivatives and has incurred losses.
Please help me in this matter.
Regards,
Divyesh Jain
15 December 2021
Turnover of futures and options ( sum of gains and losses of each trade) is less than 1 crore tax audit not applicable.
15 December 2021
That means if the total capital gain from Future and options and Total loss from future and options must be less than 1 crore (Not the total sale value is considered for deciding tax audit applicability)
15 December 2021
Yes you are right.......
15 December 2021
Ok, Thanks for your reply sir
15 December 2021
You are welcome..
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