Is it required Tax Audit in case of loss in F&O trading?
3 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14803 Points)
Replied 15 December 2019
What is your turnover ?. please inform relevant F.Y and A.Y .
CA. Umesh kumar
(ca.umesh11@gmail.com)
(1465 Points)
Replied 16 December 2019
if turnover exceeds one crore then required
Kapadia Pravin
(17259 Points)
Replied 16 December 2019
If F&O turnover is upto 1 crore, no tax audit under 44AB.
Turnover here means total of net debit + net credits of contract bills ( aggregate of all profit items +all loss items)
Turnover here means total of net debit + net credits of contract bills ( aggregate of all profit items +all loss items)
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