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Speculative loss in trading

29 June 2022

i have speculative loss of Rs.525000
in this respect i have turnover of Rs.8400000.
i have also have a other income from other heads of income which is 1200000.
hence please clarify me whether I have to do the tax audit for carry forward of speculative loss or i file the normal return?

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2 Replies

CA Ankith Jain (Chartered Accountant) (973 Points)
Replied 29 June 2022

You need to file Tax Audit for such, as you have businees profit less than 6% and taxable income more than 2.5L.

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Replied 01 July 2022

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