Comment on Tax loss harvesting

Nithin Kamath commented on 22 Jul 2015, 05:01 PM

Vinay, check this: http://zerodha.com/varsity/module/markets-and-taxation/, everything around taxation explained in detail.
In your case if trading is your only income, then no tax liability since you are net down for the year, and hence no audit required. But if you had other income as well and you fall under a certain tax slab and if your profit is less than 8% of turnover, then yeah audit required.

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