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Maintainance of books & audit u/s 43ab for f & o loss

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 July 2013 hi

is Maintainance of books & Audit u/s 43AB for F & O Loss compulsory irrespective of turnover.

My turnover is less than 1 crore & f & o loss of about 2 lakhs for FY 2012-13 AY 2013-14

Please help
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
29 July 2013 Yes. for claiming loss under F&O business maintenance of books and tax audit is compulsory

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