Trading loss carry forward Audit
2 years ago
I have incurred loss through non speculative trading income and want that to carry forward it to next year.
My turnover through option trading is 5-6 lakh and losses through stcg 50000 and options trading 35000. Will it require a tax audit and if yes than where can we get an audit done without burning a big hole in pocket. My income is 3.5-4 lakhs through bank interest.
A.Dear Sir,
It is purely financial based question and needs to be looked into chartered accountant. Normally, such loss will be carry forward to the next year and you will get necessary income tax relief.
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It is purely financial based question and needs to be looked into chartered accountant. Normally, such loss will be carry forward to the next year and you will get necessary income tax relief.
Rate me Five Star*
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Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hi,
Queries of these nature are best addressed and resolved by a practicing chartered accountant. The lawyers would be of not much help in these matters. You should consult with an chartered accountant.
If you like my answer, please rate me.
Queries of these nature are best addressed and resolved by a practicing chartered accountant. The lawyers would be of not much help in these matters. You should consult with an chartered accountant.
If you like my answer, please rate me.
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A.Hi,
Yes a tax audit is required in the present situation. In order to ensure that you are not in a position to pay for the audit there are a number of single CA firms, you can approach them, they would be of much help.
Thank you. Kindly rate the answer.
Yes a tax audit is required in the present situation. In order to ensure that you are not in a position to pay for the audit there are a number of single CA firms, you can approach them, they would be of much help.
Thank you. Kindly rate the answer.
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A.You should approach a Chartered Accountant firm and not lawyers as CA would be in a better position to help you out this instead of lawyers. Layers can help you with the legal aspects if taxation not the accounting aspects. Regards
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