29 July 2023
Then if for one business i already declaring income u/s 44AD and in current year i have a derivative loss can i show earlier business under 44ad and derivative loss under normal provisions and set off and carry forward for future years without tax audit u/s 44AB
29 July 2023
The profit from the presumptive assessment will get set off with loss from F&O and if any excess loss it will set of with income from remaining heads as per IT rules. Remaining amount of loss if any, will get carry forward.
29 July 2023
If 44AD business has profit of 140000 and F&O loss is 465000 and aggregate turnover is 27 lakh in that case total income is nil then audit is compulsory or not for carry forward of lose
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