Applicability of sec.44 ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 September 2012
i want to know whether the trading in Futures and options is covered under Sec.44AD.
one of our client have loss in Futures and options.whether Audit is to be conducted in this case. ?
one of our client have loss in Futures and options.whether Audit is to be conducted in this case. ?
01 September 2012
i) Trading in futures and options of shares is an 'eligible business' covered u/s 44AD.
ii) No need of audit vide 44AD(5),in view of the loss, provided the absolute value of profit or loss does not exceed Rs.60 lakhs.
ii) No need of audit vide 44AD(5),in view of the loss, provided the absolute value of profit or loss does not exceed Rs.60 lakhs.
Message likes :
1 times
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
- Transport service POS
- GSTR 9C- Table 9
- E INVOICE, E-WAY, INVOICE
- To Whom the Invoice should be Raise to
- INCOME TAX NOTICE QUESTION
- PLACE OF SUPPLY FOR COMMISSION AGENT
- Need Converson process of CA Propreiotary firm to CA Partnership Firm
- Capital gain on sale of resident house by non-resident Indian
- When was the effective CA partnership deed? Can I use old FRN until new FRN alloted by ICAI?
- Form 104 stamp paper deed
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- Revision under Section 264 in The Income Tax Act, 1961
- TDS under section 195.
- Filing GST Returns after death of proprietor
- Registered Required in GST Act
Trending Online Classes
-
Live Course on GSTR 9 & 9C for FY 24-25(Detailed discussions, FAQ, Case studies and Live demo of GSTR 9/9C on GST Portal)
Industry Expert16 November 2025
CAclubindia
