Sir
Some one please guide me for Audit for options trading.
Q1) Is audit compulsory?
Q2) Can I show loss and c/f in Income Tax returns without audit.
Please guide.
Depends upon any declaration of the business income under sec. 44AD in preceding year/s.
Otherwise no audit.
Thank you Mr. Dhirajlal Rambhia for prompt reply.
in my case, no declaration of business under sec 44AD in preceding years, never ever, does it mean that no Audit is necessary & I can show loss in Income tax returns & c/f it without Audit, and file returns like normal returns before 31-12-2012.
Awaiting reply.
Date error, correct date is *31-12-2021
CAclubindia
