Trading in future and option
Querist : Anonymous
I have loss of Rs 5.6 lacs from trading F&O and turnover is Rs 31.48 lacs (this is sum of profit or loss balance from trading, ignoring negative balance)
Eg: Bought 1 lot of reliance for Rs 1,00,000 and sold at Rs 1,10,000. so loss 10,000 and bought 1 lot of wipro for Rs 2,00,000 and sold at Rs 2,20,000 so profit of Rs 20000. What will be my turnover and total sales and purchase amount to declare in ITR form in this case.
Also I have income as follow
FNO (560,000)
Interest from others 192,500.00
Dividend 22,000
Total income/(Loss) - -3,45,500
Do I need my book to get audit and do Section 44AB or 44AD or 44AA apply to me?
Thanks,
Biraj Patel
Querist : Anonymous
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