Tax Audit in case of F & O LOSS for SALARIED PERSON
This query is : Resolved
27 June 2022
Tax audit applicablity, in case of Salary is above Taxable Limit and F & Loss is 50K and F & O Turnover is 11 Lakh (for 1st time.). Last ITR is ITR-2 and not 44AD.
28 June 2022
Tax audit not applicable in such a case
28 June 2022
If you declare 6% income on F&O trading then no need of audit otherwise books need to get audited.
07 July 2022
File ITR 3 declaring F&O trade under Business income, with books of accounts maintained. No tax audit applicable, but loss would be carried forward.
07 July 2022
Same will be rejected as made in one of my case.
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