BUSINESS INCOME WITH FUTURE & OPTION LOSS

This query is : Resolved

Pranali Bhandari (Querist)
Follow

04 August 2022 HELLO TEAM,

I WANT TO FILE ITR3 FOR INDIVIDUAL. HE HAS PROFESSIONAL INCOME, HOUSE PROPERTY INCOME, LONG TERM CAPITAL GAIN, SHORT TERM CAPITAL, AND FUTURE, OPTION , INTRADAY LOSS.

I HAVE QUERY REGARDING PROFIT & LOSS ACCOUNT AND BALANCE SHEET . DO WE NEED TO CREATE SEPARATE P/L & BS FOR BUSINESS INCOME AND FUTURE, OPTION , INTRADAY LOSS/ INCOME ?
WHERE TO SHOW BUSINESS INCOME AND FUTURE & OPTION LOSS IN ITR3.
AS HE HAS MAINTAINED HIS BOOKS OF ACCOUNTS ?

THANKS

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

04 August 2022 1. Yes, different for professional income, speculative business intraday & non-speculative business F&O.
2. For declaration of business income combined figures are filled in schedule BS & P&L, with an option to segregate them in Schedule BP.
3. Sec. 44ADA can be opted for professional income, while sec. 44AD can be opted for both the business income, if loss is not substantial.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Aniruddha Mody

Rampal Saini

Jitin Aditya Kapur

Amirthalingam

George Innocent

Subscribe Now

BUSINESS INCOME WITH FUTURE & OPTION LOSS

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA