Comment on Taxation for Traders - Introduction

Hi Nithin, thanks for this wonderful information !

Here is a quick question about FNO loss. Is it mandatory to report this in the return ? In my case, FNO loss is apprx. 30K. I am fine if I end up paying a little more taxes than furnishing ITR4 and showing income and getting the audit done by a CA.

Would it be ok if I don’t show this ? Any implications ?

Also, in case I need to get the audit done, I can file by Sep 30 th right ?

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