Hello,
My friend has incurred loss in F&O, and he work as a lawyer and have made revenue of 12lakhs. Can he use 44ada for the professional income. or will it be affected by the F&O loss, how will this be treated?
Thanks
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44ada plus f&o income
Replies (1)
Hi,
Section 44ADA r.w.s 44AA is applicable to person carring profession and lawyer is covered. Any loss or profit under F&O will not going to effect the applicability of section 44ADA. Further section 44ADA is applicable from AY 2017-18 onwards.
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