Two business one loss second profit ?
This query is : Open
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
- Tax on Deemed Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- F & O PROFIT REPORTING FOR AY 2026-27
- Taxability of credit in canara bank ET & T section (NRO)
- Banking Related Issue
- Reporting in TDS return
- Accounting with Claude
- IT returns for fresh job holders
- Due Date Clarity
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
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
