Maintenance of books of accounts

This query is : Resolved

Mani Peddaiaghgari (Querist)
Follow

18 January 2017 Dear Sir,

One of our assesse is having income from two different businesses. As he is maintaining books only for one business now my query is, can he file his IT return with both the cases i.e. with maintenance of books of accounts and non maintenance of books of accounts
Please give me the right solution in filling of IT return

CA Suresh Jain

CA Suresh Jain (Expert)
Follow

18 January 2017 What are the business and what is turnover of and income from each of the Business.

Mani Peddaiaghgari

Mani Peddaiaghgari (Querist)
Follow

19 January 2017 One Business is trading of gold having turnover of 70Cr & another is Speculation business having Speculation loss of Rs.27,888/-

CA Suresh Jain

CA Suresh Jain (Expert)
Follow

19 January 2017 For speculation loss also you have to maintain books of Account. If it from bullion only, then do not treat it as speculation, treat it as trading loss only

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

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

SUMAN SAHA

CA Rahul Patwardhan

T E SOUNDARARAJAN

Hanuma Yanduri

CA Bijo scaria

Subscribe Now

Maintenance of books of accounts

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Article Assistant

Accountant

GST CONSULTANCY

GST CONSULTANT