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
Menu
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.
Recent Topics :
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
Related Topics :
CAclubindia
