How to show F&O loss in ITR
F&O tournover 10 lacs
F&O loss 5 Lacs
Please guide
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How to Show F&O Loss
Replies (6)
Quick Summary
I can help you out with this. I have filed many returns having same case. In market many people have misguided opinions regarding this. Check your inbox.
F&O loss would be treated as business loss. further tax audit would be applicable as there is a loss or profit less than 6% of turnover.
Tax audit will not be applicable.
Loss should be audited but practically people declare 6% as profit on turnover and file ITR without tax audit under 44AD
Neither 44AD with 6% profit is required nor audit. We can show losses and can carry forward them.
As per this tool, Tax audit applicable if there is a loss
https://tools.quicko.com/determine-tax-audit
https://tools.quicko.com/determine-tax-audit
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