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

Murthy commented on 16 Jul 2016, 11:31 AM

Hi Nitin,
Thanks for this post, really very usefull.. I have a question. Appreciate your answer to this

I only have loss (around 2 lakh) in F&O and my turn over is less than 1 Crore.. As per what I read in your post , I am supposed to maintain books of account and get it audited by CA. However , I would like to know if it is an option for me to not declare those losses at all in my return ( ofcourse loose the opportunity to carry forward the losses) and that way, I don’t have to go through the hassle of CA audit ? please advise

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