ITR OF SHORT TERM CAPITAL LOSS FROM EQUITY SHARE
This query is : Resolved
07 July 2022
Sir/Madam , One Client has done Online Trading Business. 1)His Future and Options's Loss value has declared in Trading account in ITR3 (Sell value (₹1056117) has declared in credit side,as Other revenue operation . purchase value(₹1391727) has declared in debit side, as purchase). 2) His Losses from Equity share sell Has Declared in Short term capital gain , Here his total Buy Value is ₹61773577 and total Sell Value is ₹61770211 , So ,(a) is it right the above said process? (b) is there need declare Turnover as more than 1 crore? and (c) is he liable for Audit?
07 July 2022
Yes, it's a right process.
Tax audit not applicable in view of capital gains opted.
Tax audit not applicable in view of capital gains opted.
07 July 2022
Thank you sir with many many respect .
07 July 2022
No need to get the books audited because you are treating the shares under capital gain
F & O loss will be declared as non-speculative business under PGBP.
F & O loss will be declared as non-speculative business under PGBP.
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