Comment on Notice under Section 139(9)? - Possible reason

Rajesh commented on 31 May 2014, 04:13 PM

So there is no longer distinction between Intraday- Equity (speculative) and Trading in F&O (Non-speculative) business as far as Audit is concerned. That means Books have to be kept for audit.

Does this also mean that any loss in Intraday-Equity can be set off against other business incomes except (salary) just like it is done for F&O trading ? This will be good news for all Intraday-Equity traders.

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