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Tax on Loss on Intraday Trading

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(Querist)
29 August 2021 Dear Experts,
In FY 2020-21, I have loss of Rs. around 10K from Intraday Trading of Shares. Please guide me, is it mandatory to get it Tax Audit if I want show this loss on ITR ? or can I avoid this loss and not show in ITR ?
Please guide.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
29 August 2021 Yes, you can avoid this loss not show on ITR.
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Deepak Rawat

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Deepak Rawat (Querist)
29 August 2021 Thank You Sir... What if I want to show this loss. Will then I need to submit Tax audit report ?



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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
29 August 2021 Do you have any other taxable income.
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Deepak Rawat

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Deepak Rawat (Querist)
29 August 2021 Yes Sir, I have Income from Salary and Business also.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
29 August 2021 Tax audit not required in case you have not opted for presumptive scheme during the previous year.

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