Fno loss carry forward

l am salaried. income from salary 10 lakh. loss in fno 6 lakh is audit mandatory to carry loss
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Quick Summary
If you're salaried and have incurred losses from Futures and Options (FNO) trading, you might be wondering if a tax audit is necessary to carry forward those losses. Generally, a tax audit isn't mandatory for FNO trading if your turnover is below a certain threshold, which has recently been increased to 10 crore rupees. However, this exemption has specific conditions, particularly if you've declared income under Section 44AD in previous years.

Tax audit is not mandatory if the turnover from F&O trading does not exceed one crore.

Errata:   Now for F&O the turnover limit for tax audit, has increased to 10 Crs.

Well, it holds good provided you had not declared any PGBP income u/s. 44AD of the act, in any preceding 5 years!!

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