Loss in F&O - is audit required?

If you want to show loss then you need to go for Audit otherwise you can take the benefit of Presumptive taxation and pay tax on 6% of the turnover. 

Yes if you want to show the losses. Otherwise you can pay 8% tax on transaction value. 

Due date of tax audit is 30.09.2019

Dear Sir,

Hope you are doing well !!

If you want to show the losses and carry forward the same while filing ITR then you will be required to get the accounts audited.

The due date of tax audit is 30.09.2019.

Hello, 

Yes, if you want declare these losses and carry forward for future years, tax audit would be required.

I hope this answer satisfies your requirement.

Regards,

CA Hunny Badlani

Yes, tax audit would be compulsory in that case.

Then u need to carry tax audit. Last date of which is 30.09.2019

Dear Sir,

You will be required to get the accounts audited.

Hi

Yes, in order to carry forward losses of such business, audit shall be mandatory.

Due date would be 30th Sep 2019.

We may assist you with the filing and audit.

Hello Sir,

Yes, it is mandatory in that case to get the tax audit done.

Due date for filing shall be 30th Sept, 2019.

Thanks

Damini

You need to get your accounts audited if you wish to carry forward your losses and your income is above ₹2.5 lakh.

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Thank you

You need to get the tax audit done if you regularly deals in f&o as will be treated as business income and turnover is above 2 cr. 

- You can carry forward the losses subject to tax audit.

No short term losses wont be included in profit and loss.

No, they are not included in P&L.

The losses would be excluded from the P&L.

excluded as it is capital loss and not business loss.

It is business receipts and included in PL

Losses of previous years shall not form part of profit and loss for the current year.

Hello Sir,

If you want to carry forward the losses, tax audit is required.

The due date of tax audit is 30/9/2019.

No, short term carry forward losses are not a part of P & L.

They are not be included in P&L.