44ad audit
This query is : Resolved
28 June 2011
assesse done share transaction and incurred a loss of Rs.200000 on 35 lakh turn over of share for f.y 2010-11. his other saurces income is 600000. whether he is req to audit as per section 44ad becaude he is declaring loss on share transaction not declaring 8 % profit of 35 lakh.
28 June 2011
IN THIS CASE TAX AUDIT WILL BE NECESSARY BECAUSE TOTAL INCOME WILL EXCEED MAX AMT NOT CHARGEABLE TO TAX
CA MANOJ GUPTA
JODHPUR
09828510543
gm2104@gmail.com
CA MANOJ GUPTA
JODHPUR
09828510543
gm2104@gmail.com
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Banking Related Issue
- Traces submitting correction statement error
- Difff in ais receipts and gst turnover
- ASMT-10 received from A O
- IT returns for fresh job holders
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Gst on travel by air for business purposes
- Loss of interest in PF transfer from EPFO to Trust
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
