Menu
Derivative loss treatment
if derivative loss in f.y. is 100k, will this go in audit or should if no audit to be done how to treat this??
Replies (6)
No it will not go for audit as for loss .
derivatives trading is non speculative business income hence it is treated as business income and added to other business income in 44ad and shown in ITR3
derivatives trading is non speculative business income hence it is treated as business income and added to other business income in 44ad and shown in ITR3
Please do the aggregation of all profit and loss in absolute term and then check whether it is exceeding the threshold turnover limit as per 44AB
Total derivative loss is 10,30,500 and derivative profit is 589000
As this is below the threshold limit mantioned in 44ab no audit is required but as loss is huge advisable to get audit.
CF allowed only through audit.
Ok, thank you for guiding me.
Recent Threads
- Procedure for 'inter-unit job work' under GST Act
- Advances received and Advances adjusted - HSN Summ
- TAX ON SALE OF COMPANY'S SHARES
- Refund on Hold - Section 245
- CLARITY REGARDING ESIC WAGE CALCULATION AFTER NEW
- GST Rule 14A for Export of Service with Hypothetic
- GST ON QUERY
- Initimation on AIS
- GST on sponsorship from foreign body corporate
- Revised Income tax return karna padega kya
Related Threads
CAclubindia
