My client trade intraday business, can I add straight away his profit /loss at the end of the year as Other source income? If Loss is there any limitations? His total income from intraday business less than 10 lakhs.
please advise.
2 Replies
B.Aravind
(student)
(39 Points)
Replied 03 December 2017
This should be considered as Speculative business income, and Balance sheet and profit and loss account should be annexed for the same.
MURALIDOSS
(INCOME TAX PRACTITIONER)
(1329 Points)
Replied 03 December 2017
thanks. one more it was f&o commodity trade.
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