Sir, I am an employee working in a Government department having Income from salary. I am an active trader in the equity market cash. I do have intraday profit as well as losses from delivery based trades. Net income from the share trading is negative .As I do online trading I do keep my contractniotes electronically. I filed my return in Form ITR No.4. I have received notice undwer section 139(9) with error codes 23, 14 and 32.
I have intraday profit of Rs.120,000 and delivery base loss of Rs. 780000/- Can you guide me in how to mention this in P&L aswell as in Schedule BP of the form.?
Is its mandatory to have balance sheets, book of accounmts for an sharetrading buissiness which I engage as and when time gets on my spare time. Moreover this ended in loss. Kindly help by giving guiding me to rectify the IT notice.
CAclubindia
