Vivek Ji i have to say one thing, watched so many videos on this topic, but i got the satisfaction of knowing this topic only after watching your video. Thank You.
Finally Filed Vivek Ji. A Big Thank You for help. I was in so much tension how to file. I was first timer and was looking to file ITR 2 with just CG and not wanted to book loss. But after watching your video 4 times and with your master guidance and step by step guidance I was able to file my return for AY 2022-23. I hope I would not get any notice or anything. Since Regards for help. Will definitely take your services once I come under Audit Category. BIG SALUTE. LOTs of LOVE
Finally Filed Vivek Ji. Very informative and detailed presentation. I was in so much tension how to file. I was first timer for ITR3. But after watching your video and with your master guidance and step by step guidance I was able to file my return. I hope I would not get any notice or anything. Thanks again
If a future contract is sold on the 3rd day from the date of buying, and for 2 days if it is appearing as loss. while computing turnover, do we need to calculate 2 days loss also or only profit on the date of sale.pls advise
i dont know what will happen later. but for now i successfully filed my itr 3 by just seeing this video. i saw 12 videos on the topic and got even more confused but u made it so easy.
Sir, Thanks for your excellent, informative explaination to file ITR 3. Earlier I was filed ITR 1. But due to trading, 1st time I have filed ITR 3 with the help of your video & submitted ITR 3 successfully without any error. I saw your video in last 3 days & prepared Computation sheet so that easily filed the ITR. I have filed for Salary, House Property, CG, FnO. Once again heartiest Thanks.🙏🙏🙏
Can you pls share how you filed F&O profit and loss. I tried not able to get since video in Hindi. Cant able to find a video for ITR 3 filing for salaried with F&O. It would be very helpful. can you pls share your mail Id.
Thanks for creating such detailed level video on filing ITR with F&O PnL & Short Term Capital Gains. I had been searching for this type of content online for a long time. This video has helped me not only understanding the concepts of ITR filing with F&O Trading but also your free template for creating the Balance sheet and turnover for trading account has helped me filing my ITR single handedly. Thank you so much once again !!!
Dear Vivek, Many thanks for your efforts to explain us in detail about ITR filing for F&O losses. you have covered all minute things. Hope we can file our ITRs by our own. Your other videos are also so good. Once again thank you so much.
wah ! mazza aa gaya video dekh kar, i saw more than 50 youtube videos from last 3 days, but i got clear all confusion in this video. you explained really great. you deserved like. comment and subscribe. and i did it. :)
in cash intraday trading the the profit and loss are separately totaled and then both totaled. That is annual turnover. Fr options premium paid and received both have to be added for turnover . For other transaction short term or long term comes under capital gains and not included in trading volume to calculate condition for audit under 44AB
Dear All, Many people are getting error of Audit and possible defect in case of Loss. Please note it is warning for possible defect and not ERROR. You should consult your Tax Professional to ascertain the liability of Audit as it may very case to case and need lots of information to reach on final conclusion. Also note if you are sure about Tax Audit then you may proceed to file the return. Watch this video for more information th-cam.com/video/FgWG4fqKglo/w-d-xo.html Regards, Team Fintaxpro
Hey sir? Got a query Tried filing ITR 3 with loss in F&O as per your procedure Still getting the error of "income less then 8% opt for tax audit" Also have income in 44AD with a profit % of 45% Should i proceed with this error or how to rectify it?
@@bharatgera8229 Many people are getting error of Audit and possible defect in case of Loss. Please note it is warning for possible defect . You should consult your Tax Professional or refer 44AB & 44AB to ascertain the liability of Audit as it may very case to case and need lots of information to reach on final conclusion. Watch this video for more information th-cam.com/video/FgWG4fqKglo/w-d-xo.html
@@FinTaxPro sir, need mora clarity on balance sheet. Can we only show bank FD, credit card payable, loss on f&o, mobile as capital asset. But balance sheet not matching
Really very much helpful video. I have prepared my ITR 3 return using your video. Validation is sucessful. But showing error that i have claimed income less than 8% of gross turnover and audit information is not filled up. ITR portal asking to fill up audit information. I have salary income of 8.50 lakhs after deduction and FNO loss of 94,000. I have selected section 44AA for book of accounts maintained and other sections selected no and audit required as No. I am filing ITR-3 for first time and previously i filed ITR-2
This is one of the finest and detailed explanation of all provisions! However, Even then I'm getting error: Category of defect B/D :You will be allowed to upload the return. There is a possible defect present in the return or some of the deduction/claim may not be allowed. You have claimed income less than 8% of Gross Turnover and audit information is not filled up. Kindly fill up the audit information since you have claimed income less than 8% of Gross Turnover.
Many people are getting error of Audit and possible defect in case of Loss. Please note it is warning for possible defect . You should consult your Tax Professional or refer 44AB & 44AB to ascertain the liability of Audit as it may very case to case and need lots of information to reach on final conclusion. Watch this video for more information th-cam.com/video/FgWG4fqKglo/w-d-xo.html
@@Rams369 Many people are getting error of Audit and possible defect in case of Loss. Please note it is warning for possible defect . You should consult your Tax Professional or refer 44AB & 44AB to ascertain the liability of Audit as it may very case to case and need lots of information to reach on final conclusion. Watch this video for more information th-cam.com/video/FgWG4fqKglo/w-d-xo.html
@@shagungupta6479 Many people are getting error of Audit and possible defect in case of Loss. Please note it is warning for possible defect . You should consult your Tax Professional or refer 44AB & 44AB to ascertain the liability of Audit as it may very case to case and need lots of information to reach on final conclusion. Watch this video for more information th-cam.com/video/FgWG4fqKglo/w-d-xo.html
Beyond words sir Excellent guidance salute to your efforts I have no words to appreciate you Lots of love I will definitely make others subscribe like and share your channel
Dear Sir, FNO k 10 trade me se 2 trade me loss ho jaaye....to kya un 2 trade k loss ko hum ITR3 file karty huye loss carry forward kar skty hai? (By assuming profit in 8 trades higher than loss in 2 trades)
What are Cash transactions in terms of F & O, as usually we add money in our trading account and then usually perform a trade using that money. In this case is that considered a cash transaction as mentioned under section 44AB (a)
The way you explained it is just Amazing, Great work man, my all Doubts are cleared right now only because of you and i am surfing on internet for a while and then i found this video and my all doubts got cleared from just one single video... Keep the Great work coming on this channel ! :)
Take a bow for your explanation sir 🙏amazing efforts.👏 I have not seen such a detailed explanation for a share market taxation ...Thanks a ton🤗 I follow all your videos😊
Sir future & options ka turnover below one lakh.se kam or loss ki condition ho tab kya loss carry forward ki liye balance sheet or books of accounts maintain karna chahiye???🙏🙏🙏
This is nice video... Please share video...for following point... Capital gain securities.... Short term and long term.... Intraday profit.... F &O profit..... Share dividend.... FD INTEREST....
Need help - which section of itr3 need to show income from Infrastructure Investment Trust (InvITs) (got interest and dividend) and what is tax deduction show for same
Hello sir me pahle 44AD me return file karta tha ab mene trading bhi start kr diya to ITR-3 file karu ya ITR-4 or agar ITR -4 44AD se ITR-3 me aane se presumptive income ka benefit to nhi le sakte or kya aise me audit ki jarurat padegi....
Thanks for excellent video. I get error Category of defect B/D :You will be allowed to upload the return. There is a possible defect present in the return or some of the deduction/claim may not be allowed. You have claimed income less than 8% of Gross Turnover and audit information is not filled up Kindly fill up the audit information since you have claimed income less than 8% of Gross Turnover. Kindly advice
When you had declared that you are liable to maintain books of account, now, how can you enter speculative loss in 'No Accounts'. I think you need to enter this speculation loss in Sl No. 12a, 12b ? Please confirm.
Hello! Mera main work share trading (short-term/ long-term) hai, aur investments in bank FDs, mutual funds, NCDs hai, and very little Intra-day transactions. To kya ye business consider kiya jayega? Yadi haan, to ITR form kaunsa file karna padega? Aur kya mujhe audit karwana padega? 🤔
It is giving error category B/d: you have claimed income less than 8% of gross turnover and audit information not filled up. I entered my salary, stcg profit, ltcg profit, intraday profit and fno losses. Kindly guide for the error. My gross turnover in intraday 2l, fno 12l.
"Perfect" All my queries solved. Thanks. Just one question - at 54:45/1:17:14 on audit information page, the form asks for: "if TO exceeds 1cr but does not exceed 10cr" To which you chose yes and moved on. BUT what if in my case TO is less than 1cr ? What would it do next? Will i be able to fill these forms? Or some other provisions will come into play?? Plz solve & explain my query in detailed manner just like the detailed videos you make.. I'll be waiting for the answer...
in case of options, the turnover calculation would be agreegate of favourable and unfavourable differences and Premium received. but in the video you have mentioned premium received plus total sale value. please clarify about the same.
He has taken Premium received+Total of Absolute figure of profit n loss in case of options(Turnover calculation methodology is given nowhere in the act, it’s been mentioned by ICAI in its Guidance Note)
sir , In Zerodha turnover for options, is only sum favorable and unfavorable differences . And Premium received on sale of options is not included can you please clarify
Sir FY 2020-21 mai 44AD mai business tha.....FY mai 44AD k sath sath first time F & O loss v hai with STCG. ITR 3 mai.... Audit karwana hoga....loss k set off k liye
Most probably yes , cause earlier you have selected sec 44AD , opting which you have to show 6% profits irrespective of losses otherwise liable for audit. For further you can consult a professional.
During Itr3 AY-2022-23 filling error coming In schedule VI A, total deduction s under chapter VI-A is not equal to total individual deduction claimed. Schedule VI-A only 80c deduction as per form 16 filled. After removing the chapter VI-A deduction amount no error. How to mention 80c deduction? I need to report salary-+Cg+f&o gain.
I filled ITR3 for f&O losses and tick yes for 44AA for maintaining books of accounts and no for 44AD as I am not eligible for that and also while filling the return I have submit the BS and P&l info but at the time of verification I got error msg as below Category of defectB/D: you will be disallowed to upload the return. There is a possible defect present in the return or some of the deduction/ claim may not be allowed. Error description - you have claimed income less then 8% of gross turnover and audit info is not filled. Suggestions - kindly fill audit info since you have claimed income less then 8% of gross turnover. Please suggest.
For Filing Income Tax Return, you may call us at 9718097735 or mail us info@fintaxpro.in
Finally, I have FIled my ITR 3 with the help of this Video. Thank you so much Vivek for your guidance.
Vivek Ji i have to say one thing, watched so many videos on this topic, but i got the satisfaction of knowing this topic only after watching your video. Thank You.
Thank you Sir, Maza aa gaya khud ITR fill kar ke. 12hr lagatar bethkar finally submitted.
Best Video. I have seen till Date for ITR filling.
Most of the people hide many things but in this video you get all the information related to ITR 3.
Finally Filed Vivek Ji. A Big Thank You for help. I was in so much tension how to file. I was first timer and was looking to file ITR 2 with just CG and not wanted to book loss. But after watching your video 4 times and with your master guidance and step by step guidance I was able to file my return for AY 2022-23. I hope I would not get any notice or anything. Since Regards for help. Will definitely take your services once I come under Audit Category. BIG SALUTE. LOTs of LOVE
Finally Filed Vivek Ji. Very informative and detailed presentation. I was in so much tension how to file. I was first timer for ITR3. But after watching your video and with your master guidance and step by step guidance I was able to file my return. I hope I would not get any notice or anything. Thanks again
Sir, Pura You tube search kar liya , jitna satisfaction yanha aya , wo kanhi nahi tha. Thanks for your effort
Hi I am a chartered accountants i appreciate your video for correct place to show loss and not complicating anything by including provision of 44Ad(4)
If a future contract is sold on the 3rd day from the date of buying, and for 2 days if it is appearing as loss. while computing turnover, do we need to calculate 2 days loss also or only profit on the date of sale.pls advise
i dont know what will happen later. but for now i successfully filed my itr 3 by just seeing this video. i saw 12 videos on the topic and got even more confused but u made it so easy.
Thanks. I filed the ITR # 3 according to your video with F&O losses and refund. Today i got processed with out any problem.
Glad to hear
Sir,
Thanks for your excellent, informative explaination to file ITR 3.
Earlier I was filed ITR 1. But due to trading, 1st time I have filed ITR 3 with the help of your video & submitted ITR 3 successfully without any error. I saw your video in last 3 days & prepared Computation sheet so that easily filed the ITR. I have filed for Salary, House Property, CG, FnO.
Once again heartiest Thanks.🙏🙏🙏
Can you pls share how you filed F&O profit and loss. I tried not able to get since video in Hindi.
Cant able to find a video for ITR 3 filing for salaried with F&O.
It would be very helpful.
can you pls share your mail Id.
Thanks for creating such detailed level video on filing ITR with F&O PnL & Short Term Capital Gains. I had been searching for this type of content online for a long time. This video has helped me not only understanding the concepts of ITR filing with F&O Trading but also your free template for creating the Balance sheet and turnover for trading account has helped me filing my ITR single handedly. Thank you so much once again !!!
Hard work u did ..in explaining...thanks...laughed ..while u said..aise file hoti hai😂
subscribed after this this video. great good. abhi aadha hi dekha hai abhi continue karta hun.
Dear Vivek, Many thanks for your efforts to explain us in detail about ITR filing for F&O losses. you have covered all minute things. Hope we can file our ITRs by our own. Your other videos are also so good. Once again thank you so much.
Appreciate your support
Can you please share your computation excel sheet
@@finoholic Check in description
Filing an ITR by own is just like taking medicine without consulting a doctor
Thanks a lot. I could submit my ITR3 return by watching your video at the last minute. I should have watched this video much earlier
Filled itr3 on 31 July ,great video sir 👏👏👏
One of the best videos that I've ever seen..! Kudos...!
The best one i have seen in respect of intraday & F &O
wah ! mazza aa gaya video dekh kar, i saw more than 50 youtube videos from last 3 days, but i got clear all confusion in this video. you explained really great. you deserved like. comment and subscribe. and i did it. :)
आपका काम ईमानदारी का हैं सर थैंक्स
आपसे कुछ पूछूंगा जी.
in cash intraday trading the the profit and loss are separately totaled and then both totaled. That is annual turnover. Fr options premium paid and received both have to be added for turnover . For other transaction short term or long term comes under capital gains and not included in trading volume to calculate condition for audit under 44AB
I have liked and subscribe before listening to your video just by seeing excellent comments.
This is the detailed video till date I have listened till date. Thank you.
Thank you. You shared lot of information useful to retail traders.
Dear All,
Many people are getting error of Audit and possible defect in case of Loss. Please note it is warning for possible defect and not ERROR. You should consult your Tax Professional to ascertain the liability of Audit as it may very case to case and need lots of information to reach on final conclusion.
Also note if you are sure about Tax Audit then you may proceed to file the return. Watch this video for more information th-cam.com/video/FgWG4fqKglo/w-d-xo.html
Regards,
Team Fintaxpro
Hey sir?
Got a query
Tried filing ITR 3 with loss in F&O as per your procedure
Still getting the error of "income less then 8% opt for tax audit"
Also have income in 44AD with a profit % of 45%
Should i proceed with this error or how to rectify it?
Can we add the DP charges in the expenses for STCG?
@@rksahu83 no
@@bharatgera8229 Many people are getting error of Audit and possible defect in case of Loss. Please note it is warning for possible defect . You should consult your Tax Professional or refer 44AB & 44AB to ascertain the liability of Audit as it may very case to case and need lots of information to reach on final conclusion.
Watch this video for more information th-cam.com/video/FgWG4fqKglo/w-d-xo.html
🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏 EXCELLENT, IMPRESSIVE, KNOWLADGABLE, AAP KO MERA SALUTE.
God Bless You Buddy. this video still helped me to File my ITR
Excellent one!👍
Great Man ♂️
God bless you and your family everything good 💯
❤❤
Thank you 🙌
Wah sir maza aa gaya dekh kr video
Cool 😮 saw full video peacefully to know some rules
Sir, your work is appreciable as our students, who want to learn or study with a job
Glad you like it
@@FinTaxPro sir, need mora clarity on balance sheet. Can we only show bank FD, credit card payable, loss on f&o, mobile as capital asset. But balance sheet not matching
Very good and detailed explanation
Really very much helpful video. I have prepared my ITR 3 return using your video. Validation is sucessful. But showing error that i have claimed income less than 8% of gross turnover and audit information is not filled up. ITR portal asking to fill up audit information. I have salary income of 8.50 lakhs after deduction and FNO loss of 94,000. I have selected section 44AA for book of accounts maintained and other sections selected no and audit required as No. I am filing ITR-3 for first time and previously i filed ITR-2
Tax audit krvana padega bhai
Thanks for valuable your video and submitted itr3.. Thanks once again
Vivekji
Your efforts to make this video is tremendous .I am appreciate your work.
Best wish for your success.🙏
This is one of the finest and detailed explanation of all provisions! However, Even then I'm getting error:
Category of defect B/D :You will be allowed to upload the return. There is a possible defect present in the return or some of the deduction/claim may not be allowed.
You have claimed income less than 8% of Gross Turnover and audit information is not filled up.
Kindly fill up the audit information since you have claimed income less than 8% of Gross Turnover.
same here, need suggestion plz
i also got the same error
Many people are getting error of Audit and possible defect in case of Loss. Please note it is warning for possible defect . You should consult your Tax Professional or refer 44AB & 44AB to ascertain the liability of Audit as it may very case to case and need lots of information to reach on final conclusion.
Watch this video for more information th-cam.com/video/FgWG4fqKglo/w-d-xo.html
@@Rams369 Many people are getting error of Audit and possible defect in case of Loss. Please note it is warning for possible defect . You should consult your Tax Professional or refer 44AB & 44AB to ascertain the liability of Audit as it may very case to case and need lots of information to reach on final conclusion.
Watch this video for more information th-cam.com/video/FgWG4fqKglo/w-d-xo.html
@@shagungupta6479 Many people are getting error of Audit and possible defect in case of Loss. Please note it is warning for possible defect . You should consult your Tax Professional or refer 44AB & 44AB to ascertain the liability of Audit as it may very case to case and need lots of information to reach on final conclusion.
Watch this video for more information th-cam.com/video/FgWG4fqKglo/w-d-xo.html
sir ne jo upload kiya tha vo kya tha? prefilled vale me?
thank you so much bro, by your videos i were able to file my itr
You are most welcome
Sir, agar hum future or option ko purchase karte hai or same day hi sell (square off) kar dete hai to ise intraday me consider karenge kya
Beyond words sir
Excellent guidance salute to your efforts
I have no words to appreciate you
Lots of love
I will definitely make others subscribe like and share your channel
Glad to here
very nicely explained sir.
Loss on sale of share long term can be set off from long term capital gain on other assets not from shares
Good
Thank you so much sir ....I can file return very quick because of your video
Sir Trading Account of Specultive & Future & Option Ka kese banega and Turnover to aap wali lelenge but purchase value kya lenge
Thank you sir I filed my ITR3.
Very well explained sir
Dear Sir, FNO k 10 trade me se 2 trade me loss ho jaaye....to kya un 2 trade k loss ko hum ITR3 file karty huye loss carry forward kar skty hai? (By assuming profit in 8 trades higher than loss in 2 trades)
What are Cash transactions in terms of F & O, as usually we add money in our trading account and then usually perform a trade using that money. In this case is that considered a cash transaction as mentioned under section 44AB (a)
Definitely not !!! It’s not cash transaction in reference to 44AB. It’s a matter of cash money not cash asset class.
Best top information in free 👌🙌👍 very much thanks sir.
The way you explained it is just Amazing, Great work man, my all Doubts are cleared right now only because of you and i am surfing on internet for a while and then i found this video and my all doubts got cleared from just one single video... Keep the Great work coming on this channel ! :)
I wish if I could give more than one like. Thank you for this video.
Explanation is very good. Awesome
Very good presentation. Thanks a lot Sir.
Take a bow for your explanation sir 🙏amazing efforts.👏 I have not seen such a detailed explanation for a share market taxation ...Thanks a ton🤗
I follow all your videos😊
Great efforts sir
Impressed with the way of teaching
😻love from Telangana
short n sweet explanation
Sir future & options ka turnover below one lakh.se kam or loss ki condition ho tab kya loss carry forward ki liye balance sheet or books of accounts maintain karna chahiye???🙏🙏🙏
Hellow sir, thank you for such valuable class
mujhe lag raha apunich hi CA ban gya hai... Very good and informative video, good job, keep it up
Wow ... very well explained....thanks sir
This is nice video...
Please share video...for following point...
Capital gain securities.... Short term and long term....
Intraday profit....
F &O profit.....
Share dividend....
FD INTEREST....
Thank you for great explanation.
Sir agar capital market and trading me loss ho to kya ham sirf itr 1 file kar sakate hai isse koi problem to nahi hogi aage
Need help - which section of itr3 need to show income from Infrastructure Investment Trust (InvITs) (got interest and dividend) and what is tax deduction show for same
kya 'GST' ko Brokerage aur STT ke sath mila kar business expense mein dikhana sahi hai?
Amazing explanation sir
Sir purchase buying amt hoga?
Hello sir me pahle 44AD me return file karta tha ab mene trading bhi start kr diya to ITR-3 file karu ya ITR-4 or agar ITR -4 44AD se ITR-3 me aane se presumptive income ka benefit to nhi le sakte or kya aise me audit ki jarurat padegi....
Thanks for excellent video.
I get error Category of defect B/D :You will be allowed to upload the return. There is a possible defect present in the return or some of the deduction/claim may not be allowed.
You have claimed income less than 8% of Gross Turnover and audit information is not filled up
Kindly fill up the audit information since you have claimed income less than 8% of Gross Turnover.
Kindly advice
I am also getting same. Kindly help.
If you got any solution to above issue. I am also getting the same error.
Excellent Video Bhai...I never came across such a detailed video !!! Hats off to you ...You deserve BIG APPLAUSE !!! 🙏🙏🙏🤝🤝🤝
Sir jo investment(like mutual fund or shares) hold kar rahe hai as at 31st march wo kis value mein disclose karein? cost or fmv? pl guide
Very informative. Thanks.
Please don't be angry with me.. i've liked the channel and i subscribed too... and the vedio is amazingly useful..
I am sorry sir.
Sir please talk slowly and peacefull to understand easily is the main motive of yours thanks.
When you had declared that you are liable to maintain books of account, now, how can you enter speculative loss in 'No Accounts'. I think you need to enter this speculation loss in Sl No. 12a, 12b ? Please confirm.
Hello! Mera main work share trading (short-term/ long-term) hai, aur investments in bank FDs, mutual funds, NCDs hai, and very little Intra-day transactions. To kya ye business consider kiya jayega?
Yadi haan, to ITR form kaunsa file karna padega?
Aur kya mujhe audit karwana padega? 🤔
Sir sir sir ...the best knowlege ...
It is giving error category B/d: you have claimed income less than 8% of gross turnover and audit information not filled up. I entered my salary, stcg profit, ltcg profit, intraday profit and fno losses. Kindly guide for the error. My gross turnover in intraday 2l, fno 12l.
very well explained
Bhai ,ye 15:18 pe closing stocks 15L khase liy or plz explain.reply please
"Perfect"
All my queries solved. Thanks.
Just one question -
at 54:45/1:17:14 on audit information page, the form asks for:
"if TO exceeds 1cr but does not exceed 10cr"
To which you chose yes and moved on.
BUT what if in my case TO is less than 1cr ?
What would it do next? Will i be able to fill these forms? Or some other provisions will come into play??
Plz solve & explain my query in detailed manner just like the detailed videos you make..
I'll be waiting for the answer...
hello sir my speculative loss set off in salary head and balanced carry forward is nil how solve it thanks
in case of options, the turnover calculation would be agreegate of favourable and unfavourable differences and Premium received. but in the video you have mentioned premium received plus total sale value. please clarify about the same.
He has taken Premium received+Total of Absolute figure of profit n loss in case of options(Turnover calculation methodology is given nowhere in the act, it’s been mentioned by ICAI in its Guidance Note)
agar salary person ka f&o turnover 4 cr hain aur wo loss carry forward nahi karna nahi chahta aur tradimg ka 1st year hain to kya karna padega
In which section F&O Turnover need to fill? If we are not filling F&O Turnover then how system will calculate Audit required or not?
On the basis of AIS
sir , In Zerodha turnover for options, is only sum favorable and unfavorable differences . And Premium received on sale of options is not included can you please clarify
Superb explain 👍👍👍
Really sir,
This video Amazing, wonderful, fabulous and thank u for ur hard work, efforts..really 👍👍
Sir mere itr3 filling men audit compliances dikha rha hai mujhe kya krna chahiye
Sir, Pl tell me where to put FNO profit in PNL a/c ... I am a science student and have some +ive FNO income and speculative income
Nice Video. Very Well explained each part.
Sir FY 2020-21 mai 44AD mai business tha.....FY mai 44AD k sath sath first time F & O loss v hai with STCG.
ITR 3 mai.... Audit karwana hoga....loss k set off k liye
Most probably yes , cause earlier you have selected sec 44AD , opting which you have to show 6% profits irrespective of losses otherwise liable for audit.
For further you can consult a professional.
Do I need to pay advance tax for f&o earnings ? As we don’t know whether year will end with profit or loss so how can we calculate advance tax ?
Hello sir! Thank you so much for explaining it so well! Can you please explain how to treat commodity losses of upstock account?
Thank you for your help and knowledge
Glad it was helpful!
Sir, pls share how to prepare books of account/balance sheet for PGBP
During Itr3 AY-2022-23 filling error coming In schedule VI A, total deduction s under chapter VI-A is not equal to total individual deduction claimed. Schedule VI-A only 80c deduction as per form 16 filled. After removing the chapter VI-A deduction amount no error. How to mention 80c deduction? I need to report salary-+Cg+f&o gain.
I filled ITR3 for f&O losses and tick yes for 44AA for maintaining books of accounts and no for 44AD as I am not eligible for that and also while filling the return I have submit the BS and P&l info but at the time of verification I got error msg as below
Category of defectB/D: you will be disallowed to upload the return. There is a possible defect present in the return or some of the deduction/ claim may not be allowed.
Error description - you have claimed income less then 8% of gross turnover and audit info is not filled.
Suggestions - kindly fill audit info since you have claimed income less then 8% of gross turnover.
Please suggest.