Menu
f&o Turnover cross check
when we submit ITR where no tax audit requirement , how ITax deptt cross verify the figure of turnover ? whether broker send then stt report ?
Replies (2)
Yea, the broker has to file STT report and apart from this, they also capture date using your PAN.
Sir
In future and option trading nothing can be hide as u said above.
That means if client has profit or loss its visible in broking pvt ltd company books also.
if profit we have to declare actual because its clearly visible in books. Declaring 6 % even actual profit in books 8 % is underreporting of income.
then if loss why tax audit require ?
our reporting loss is same as visible in broker books.
Tax audit should be for those who do not maaintain accounts and still declare income less than 6 % of turnover.
whats ur views.
In future and option trading nothing can be hide as u said above.
That means if client has profit or loss its visible in broking pvt ltd company books also.
if profit we have to declare actual because its clearly visible in books. Declaring 6 % even actual profit in books 8 % is underreporting of income.
then if loss why tax audit require ?
our reporting loss is same as visible in broker books.
Tax audit should be for those who do not maaintain accounts and still declare income less than 6 % of turnover.
whats ur views.
Recent Threads
- GST Tax invoice Value Rs..234000
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
- Who is responsible for paying GST Liability (If th
- Excess Payment on RCM
- AOC4 auto population of previous year data
- Exports against INR PO payable by Domestic Company
- Which websites are best for government exam prepar
- TDS on maturity payment of LIC of india
- ITR2 Gold ETF short and long term
Related Threads
CAclubindia
