06 December 2021
MY PROFESSIONAL RECEIPTS ARE 30.00 LACS AND FILING ITR UNDER SEC 44ADA SHOWING MORE THAN 60% PROFIT I.E. 18.00 LACS. ALSO THERE IS FUTURE & OPTIONS BUSINESS HAVING TURNOVER OF 50.00 LACS BUT NET LOSS AT THE END OF YEAR IS 5.00 LACS. NOW MY QUERY IS THAT WHETHER I HAVE TO AUDIT BOOKS IN CASE OF FUTURE & OPTIONS BUSINESS AS IT IS LOSS BEING APPLY SEC 44AD. (6% OR 8%) .
AND IF AUDIT APPLY WHETHER THE PROFESSIONAL RECEIPTS ARE TO BE ADDED IN THE TAX AUDIT OR NOT AND UNDER WHICH SECTION THE TAX AUDIT WILL BE DONE . (SEC 44AB/AD/ADA)
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