I have made F&O Loss for the Financial year 2019-20. I don't want to set off or carry forward the loss -
1. Do I still need to show the loss in income tax filling?
2. Since I don't want to set off or carry forward the loss for future do I have to still go through Audit process.
Appreciate experts help please.
It is always better to consult/engage a professional CA for such guidance, as accounting losses and submitting such statement helps in many counts like depreciation, financial analysis of the specific reason for the loss and for availing finance.