Doubt reg. Section 44AB

This query is : Resolved

T.N.Reddy

T.N.Reddy

(Querist)
Follow

10 September 2025 Sir, one of the assessee has business income (Trading of goods) which was put under 44AD, he also has the speculative business (F&O Transactions), which we are reporting as (+)positive and (–) negative values in the income tax returns. However, when I check the Cash collections and Cash payments which was done from the trading of goods business it is more than 5% to the total turnover and more than 5% to the total expenditure, “totals” here means the trading of goods turnover and speculative business turnover, Now the question is, do I have to get the books of accounts audited u/s.44AD, as I am not satisfying the proviso’s to the clause (a) of section 44AD.

T.N.Reddy

T.N.Reddy

(Querist)
Follow

10 September 2025 From botton last two lines, kindly read them as u/s.44AB, but not 44AD.

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