I have gone through the past threads given about 271-c.. Any one is having clear idea about the penalty if loss from F&O trading is not disclosed . What the rule says?
a looser why again have to loose money by showing this as a presumptive income or tax audit..
expecting some comments ASAP......
Dear Guest,
First of all you are more concern about section of notice. so you can get notice u/s 142 (1) or 143 (2).
Earning profit or loss is not a decisive factor whether return or audit report should be file or not. if your total trading cross the threshold limit of audit i.e. 1Cr in a year. you must have to audited your books of accounts.
CAclubindia
