Speculation Income or Business Income
This query is : Resolved
14 July 2011
Does F&O income considered as Speculation Income or Business Income?
If a professional have 5Lacs Professional Income, and 18 Lacs F&O Income, Section 44AB applicable????
Thanks
If a professional have 5Lacs Professional Income, and 18 Lacs F&O Income, Section 44AB applicable????
Thanks
14 July 2011
Does F&O income considered as Speculation Income or Business Income?
By the virtue of Section 43(5), it is normal business income.
By the virtue of Section 43(5), it is normal business income.
Message likes :
1 times
14 July 2011
If a professional have 5Lacs Professional Income, and 18 Lacs F&O Income, Section 44AB applicable????
He is not required to get his accounts audited as the turnover independently does not crosses the prescribed limits U/s
44AB(b) and 44AB(a) respectively.
He is not required to get his accounts audited as the turnover independently does not crosses the prescribed limits U/s
44AB(b) and 44AB(a) respectively.
Message likes :
1 times
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
- TDS 194-T applicability
- Tds on commission charges
- Fixe term employment
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- GST ITC REVERSE
- TDS on TRUST
- Withdrawal in cash from partners capital account by partner
- Consolidated financials
- Regarding Applicability of Tax Audit u/s 44AB
- Renovation exp. in flat by family member
- Starting trading business
- Need Professional Opinion AY 2012-13 Old Demand
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
Quick Links
22 September 2026
Account Assistant
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
Featured
11 September 2026
Audit Executive
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
CCI
Pro
CAclubindia
