Regarding F&O transaction
This query is : Resolved
19 December 2024
1) if assessee required to get their books of account audited u/s 44AB, Can we opt 44AD for F&O transaction if nature of business is whole sale and retail trade?
2) In case of net loss (Sale amount - buy amount) in F&O transaction, then 44AD will be applicable?
2) In case of net loss (Sale amount - buy amount) in F&O transaction, then 44AD will be applicable?
19 December 2024
ITR to be filed on PAN basis. In view of this, his both the businesses will be consolidated at the year end to comply with Income Tax. If aggregate turnover for both businesses exceed 2 Crs. (3 Crs. with specified conditions) then he cannot opt for sec. 44AD for F&O.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Multiple payment of self assessment tax for A Y 2025-2026
- CAPITAL GAIN REDEVELOPED FLAT
- REGARDING ITR FILING QUESTION
- CLOSING STOCK QUERY
- Requirement under FEMA &RBI
- Query regarding reporting of exempt foreign remuneration in ITR
- DUE DATE FOR ITR FILING
- U/S 194 T
- 44AD, 44ADA business details
- Old Traces Portal
- Computation of Dividend
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
