F &O LOSS AND AUDIT ETC

This query is : Resolved

S N UNNI (Querist)
Follow

25 July 2024 ONE OF MY CLIENT HAS INCURRED LOSS OF RS 2 LAKHS IN F & O TRADING AND HIS TURNOVER IS 40 LAKHS ONLY WHETHER HE IS LIABLE FOR AUDIT U/S 44 AB OF IT ACT PL .HELP.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

25 July 2024 Whether he had declared the F&O income under sec. 44AD IT act, in any preceding 5 years?

S N UNNI

S N UNNI (Querist)
Follow

25 July 2024 No. He is a salaried emploee in private sector and also earning interest from private parties and banks.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

25 July 2024 In that case no audit u/s. 44AB IT act, applicable over it.

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

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

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

AGNIHOTRAM RAM NARAYANA

BHARAT KANDOI

J.Vijai

yadagiri

S. AGARWAL & ASSOCIATES

Subscribe Now

F &O LOSS AND AUDIT ETC

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

ARTICLED ASSISTANT

Accounts and Audit Assistant

Post office

Senior Accounts Executive

CA Assistant

Audit executive

Accountant

Audit Assitant