banner_ad

Section 44AD & Derivative Income

This query is : Resolved 
Profile Image

Profile Image

(Querist)
20 June 2011 An individual is having derivative loss of Rs. 1 lac. His total turnover is Rs. 3 Lac.

(1) Is Trading in derivative is covered under 44AD ?

(2) If yes than is he required to audit account ?

Please reply

Thanks in advance

KIYOSH
Profile Image

CA MANOJ GUPTA

Profile Image

CA MANOJ GUPTA (Expert)
21 June 2011 YES IT IS COVERED
NO AUDIT IS REQD IF THE TOTAL INCOME DOES NOT EXC4EED 160000
CA MANOJ GUPTA
JODHPUR
09828510543
Profile Image

KIYOSH

Profile Image

KIYOSH (Querist)
21 June 2011 MR. MANOJ GUPTAJI

INCOME IS ABOVE 1,60,000 THAN WHAT ?

AUDIT IS REQUIRE

KIYOSH
Profile Image

CA MANOJ GUPTA

Profile Image

CA MANOJ GUPTA (Expert)
21 June 2011 yes if profit is declared below 8 per cent of gross receipts
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details