Treating F&O Trading as STCG

Vijayaraghavan R (Employee) (63 Points)

20 November 2020  

An auditor has treated loss from F&O trading as STCG. Even though I insisted to treat it as business income the auditor gave explanation that it is fine and correct to report it as capital gain as the nature of action is personal. Also the auditor has not provided the behalf of filing details in the ITR 2. In fact I called the IT help line and they also said that it is ok to file it as self even though filed by auditor. If IT comes back for queries what are my ways to save myself.