Comment on Zerodha - your tax aide while you trade

Nimesh commented on 12 Jul 2016, 06:55 PM

1. I have filed financial year 14-15 return (ITR IV) through CA but I have received a notice under 139.
Following are the details:
Salary income: 6,75,000
FnO trading loss: 6,30,000
equity cash loss: 47,000
turnover less than 1 cr.
Net : 6,75,000-6,30,000= 25,000 which is less than 2,50,000 (min tax slab)
So in this case do I need an audit to be done & refiled?
2. Can we show fno loss as non speculative short term loss & pay 8% on equity cash turnover to avoid audit.
Please advice.

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