If an Individual has Speculation Loss in shares during the year.Then is he require to file his Profit & Loss A/c and Balancesheet in ITR Form.Is he liable to get his books audited u/s 44AB??
And what if he has Speculation Gain?
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Query related to speculation loss/gain
Replies (1)
if have only speculation loss and don't have any other business income than only he is required to file his balance sheet and profit and loss account
And Please also refer section 44AA to Mainatin Compulsory Books Of Account
Tax Audit Applicable When Gross Turnover Exceed Rs.1 Cr And Professional Fees Receipt Exceed Rs.25 Lacs
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