20 May 2024
Incase of Intraday, Speculationa & F&O Turnover is more than 2 Cr in Financial year 2023-24 and if such party wants carry forward loss incurred by such F&O and speculation then what is the way to carry forward such loss? If audit would be applicable as Turnover exceeds 2Cr in particular financial year?
20 May 2024
Declare it under books of account maintained, i.e under normal assessment. Tax audit u/s. 44AB IT act not applicable, provided aggregate turnover is below 10 Crs. (w.r.t cash transactions below 5 percentage.)
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