Comment on How to easily file your taxes when trading at Zerodha with Quicko

Hnr commented on 04 Mar 2021, 08:19 PM

I have made loss in FnO trading and the turnover is around 40 Lacs. Since profit is less than 6% of turnover, i think the audit is required, But i don’t want to carry forward the losses to avoid tax audit as i don’t know the process and charges for it. In this case, is it ok if i file my trading profit as more than 6% of turnover and pay the applicable tax on that? Will the ITDep still mark my return for scrutiny even though i pay the tax for shown profit? Please suggest? If i need to have tax audit then what are the charges?

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