F & O LOSS AND ORDINARY PROFIT
This query is : Resolved
14 April 2022
SIR I HAVE A CLIENT WHO HAVE A LOSS OF MORE THAN 1 CRORE FROM F & O BUSINESS AND PROFIT FROM OTHER BUSINESS WHICH IS WATER AND BEVERAGES. HOW CAN I SHOW BOTH BUSINESS IN ONE ITR. IF I AM SHOWING F & O LOSS IN ORDINARY BUSINESS AND WATER PROFIT IN 44 AD THEN IS IT CORRECT? MEANS CAN I SHOW TWO BUSINESS ONE IS ORDINARY LOSS AND SECOND IS 44 AD IN ONE ITR?
14 April 2022
44AD has to be opted for all the business including F & O business.
You can adjust the F & O loss against water and beverage business.
You can adjust the F & O loss against water and beverage business.
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