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Regarding F&O transaction

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(Querist)
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?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
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.
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