banner_ad

Showing speculation loss in itr

This query is : Resolved 
Profile Image

Profile Image

(Querist)
14 August 2018 Sir,
As speculation business is considered under section 44AD of Income tax act, how can we show loss from speculation business without getting audit under section 44AB ? Because as per section 44AD if the presumptive income is less than 8% or 6% as the case may be, it will result into tax audit. So what is the way out in this matter ?
Profile Image

Nikhil Kaushik

Profile Image

Nikhil Kaushik (Expert)
14 August 2018 if you want to carry forward the loss, file ITR-3. If the income is above basic exemption limit, audit would be required.
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

CCI Pro
CAclubindia's WhatsApp Groups Link


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
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details