This document contains financial information on the turnover, realized profit, and losses from various trading activities. It shows that future, option, and normal business trading generated losses totaling nearly Rs. 100,000. Intraday speculative trading also resulted in a loss of around Rs. 10,000. To claim losses and carry losses forward, mandatory books of account must be maintained under sections 44AB and 44AA of the tax code based on turnover or income thresholds.
This document contains financial information on the turnover, realized profit, and losses from various trading activities. It shows that future, option, and normal business trading generated losses totaling nearly Rs. 100,000. Intraday speculative trading also resulted in a loss of around Rs. 10,000. To claim losses and carry losses forward, mandatory books of account must be maintained under sections 44AB and 44AA of the tax code based on turnover or income thresholds.
This document contains financial information on the turnover, realized profit, and losses from various trading activities. It shows that future, option, and normal business trading generated losses totaling nearly Rs. 100,000. Intraday speculative trading also resulted in a loss of around Rs. 10,000. To claim losses and carry losses forward, mandatory books of account must be maintained under sections 44AB and 44AA of the tax code based on turnover or income thresholds.
Option 1026549 -60801 Normal Business - Non Speculative 1786311 -89566 Intraday - speculative Business 698765 -9876 TOTAL TURNOVER 2485076 -99442 Tax Audit Limit- section 44AB- TOR Rs. 10 Crore Books of Account - Section 44AA -TOR or Income Rs. 25 Lakhs or Rs.2.5 Lakhs
NORMAL BUSINESS- NON SPECULATIVE
INTRADAY- SPECULATIVE BUSINESS In our case Books of Accounts are mandatory in order to claim Loss in ITR and C/f of these losses DIRECT EXPENSES PROFIT/LOSS INDIRECT EXP NET PROFIT/LOSS 5531 -34296 7473 -68274 20072 -122642 13004 -102570 20072 -122642 4398 -14274 0 -14274 17402 -116844 20072 -136916