44ADA with F&O Loss. Tax Audit Query.

Tax queries 181 views 4 replies

Assessee has Following Incomes

Salary: 1000000

44ADA Turnover: 1500000 and Profit Shown: 975000

 

F&O Turnover: 1400000 and Loss: 350000

 

Can Assessee opt for 44ADA for profession and Prepare books for F&O Loss. Whether Tax Audit Applicable?

Replies (4)
  1.  Yes,
  2.  Not applicable.         
Originally posted by : Dhirajlal Rambhia
opening quote
 Yes,
 Not applicable.         
closing quote

Thanks Sir.

You are welcome.               

Originally posted by : Anderson Clane
opening quote What is tax audit under Section 44AB? closing quote

Refer:::   https://cleartax.in/s/tax-audit-section-44ab


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