Derivative from F&O Trading
This query is : Resolved
01 March 2017
Sir
My client had made F & O Trading in 14-15 & 15-16 & made a profit of Rs 72 lakh & loss of Rs 1.03 Crore
Wheather he is liable u/a 44AB or not
Kindly Suggest.
Thank You
01 March 2017
Profit/Loss from Derivative Trading is taxable under head "Income from Business or Profession". The contract note available is sufficient to ascertain the profit/Loss arising from such trading. If you incurred any expenditure for doing such trading i.e office expenditure, salary of staff or any other expenditure against such trading and want to claim deduction and turnover from Derivative trading exceed the threshold limit then Tax audit u/s 44AB of Income Tax is required.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
