My client having below details:-
loss from f&o 30 lacs
turnover less than 1 cr (f&o)
taking sum of favourable plus unfavourable differences
income from other source 30 thousand only this year being saving bank interest ( means less than 2.5 lacs limit)
a) whether books of account need to be maintained ?
b) whether tax audit required?
Individual filing f&o business ITR first time. Want to show this f&o business loss and
c/f.
a) Yes
b) No.
CAclubindia
