Hi
I'm currently doing business and made some loss in F&O trading. But I don't want to show this loss in ITR and don't want to carry forward the loss as I'm planning to take some loan in coming months. I feel this loss would affect my loan process.
How can avoid showing this loss in ITR?
What is the turnover of F&O transactions?
Whether the transactions reflect in your AIS reports?
F&O turnover is 85L.
How to check AIS report?
And one more doubt is since it's going to belated ITR filing and can't carry forward losses. So can we avoid showing it?
You may declare the F&O transaction in ITR but no need to declare any loss. That would be better option, as AIS report would declare the transaction.
Sir
I've checked my AIS Report, it didn't show any details related to F&O transaction.
Still should I disclose F&O transaction in filing?
In that case you may skip the declaration.
CAclubindia
