What is Tax Audit and Future and Options Trading? Tax Audit is defined under section 44AB of the Income Tax Act. Click here for the full text of this section. Future and Options Trading is also called derivative Trading. Please click here for a brief explanation. Every Trader trading in Future and options is been told to get his accounts audited before filing his Income Tax returns. I saw some traders are not filing the Income Tax returns in case of Losses & lose the benefits of carrying forward of…
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