Charges for Tax Audit in Case of Loss from F&O

Taxation
1

Hi,

I have a loss of 48K this year in F&O and i would like to go for Audit. But would like to know what are the charges people general pay for this.

Actually i have it from 2 Different Trading accounts(Zerodha & Sharekhan). and my total transactions are around 160. And my main Income is from Salary.

Do advice how people charge for Audit of accounts . and what information i need to provide them.

2

Audit is not necessary. but proper accounting is required and you can carry forward the loss

3

Can you provide more details regarding type of accounts which are required.
Any reference link will be much help full.
And if i am not wrong i will need to Fill ITR 3. So can person individually declare his loss.

4

Nope thats a lie ! You need to undergo audits to carry forward loss in ITR3.

5

Do file return before the due date in order to claim or carry forward your losses.

6

Charge for fee depends upon time & effort they put till filing and further support as and when required. In case of trading most of the documents are provided by the Brokers which helps in preparing financial statements. The fees can in the range of 10k to 20k or sometime lesser also.