This discussion clarifies audit applicability under Section 44AB of the Income Tax Act, specifically concerning presumptive income under Section 44AD. It addresses a scenario where a business has a turnover of ₹1.30 crore under Section 44AD, with a presumptive income of ₹7,80,000 calculated at 6%. The core question is whether this turnover threshold necessitates a tax audit.
22 August 2025
🔍 Breakdown of Your Income Details:
Particular Amount (₹)
Presumptive Business Turnover (44AD) ₹1.30 crore Presumptive Income @6% (u/s 44AD) ₹7,80,000 as my cash transaction <5% F&O Trading Turnover (Non-Speculative) ₹6.20 lakh F&O Trading Loss ₹1,14,000 (Loss) Other income ₹14,000
Can i show my main business in 44AD and F&O loss in normal PGBP income ? To avoid audit requirements?