Income tax section 44ad
This query is : Resolved
20 September 2022
1) Taxpayer has been completed 2 years of presumptive income scheme section 44AD for Manufacturing Business.
2) For F. Y. 21-22 he is having profit from manufacturing business. and losses from future and option trading. his total turnover is below 1 crore.
Please suggest is he still eligible for presumptive income scheme section 44AD for manufacturing Business.
2) For F. Y. 21-22 he is having profit from manufacturing business. and losses from future and option trading. his total turnover is below 1 crore.
Please suggest is he still eligible for presumptive income scheme section 44AD for manufacturing Business.
20 September 2022
44AD should be applicable for both manufacturing and F and O trading.
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