Two business one loss second profit ?
This query is : Open
Quick Summary
06 May 2021
44 ad Gota Firm Business profit =205460/- and share trading short term loss (-256) And intreday loss (-1565) total Turnover share Business 5 lac.
which itr file? & Audit report applicable ?
which itr file? & Audit report applicable ?
06 May 2021
Ignore share trading losses which are meagre, file ITR 4 with 44AD business profit. Tax audit not applicable.
06 May 2021
Thank you
भविष्य मे कुछ problems तो नाही होग ।
भविष्य मे कुछ problems तो नाही होग ।
07 May 2021
No problem in case of loss not declared.
08 May 2021
Sir. In this case, would the assessee also offer presumptive profit on intraday absolute turnover ?
08 May 2021
Intraday profit is speculative hence 44AD not applicable.
08 May 2021
Dear Sir, There is no restriction for speculative business to offer income under sec 44AD.
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
- Sales of goods of amount Rs77 lakhs to a party
- ITR-3 - How to show loss in 65(i) - (iii) under under Part A - P & L section and sub section 65?
- Query related to CA/CS/CMA Firm
- Automatic MIS from Tally ERP
- Filling ITR for FY 2024-25
- Schedule Dpm under 44ada no account casr
- Value of Perquisite Tax Borne by Employer
- TAX AAPLICABLE TO SUPPLY OF FRESH FRUIT JIUCE
- TDS on Purchase of Property from NRI Seller
- Tax Demand of ₹4,650 for AY 2026-27
- 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
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
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
