F & O TURNOVER AND IT QUERIES

NAVJOT SINGH (25 Points)

22 June 2024  
1. IF F&O TURNOVER IS RS.70 LAKH AND PROFIT IS RS.12 LAKH , LIKE OTHER BUSINESS CAN I SHOW PROFIT ABOVE 6% WITHOUT AUDIT APLICABLITY

OR

6% RULE IS NOT APPLICABLE FOR F& O

OR

I SHOW ANY PROFIT LIKE 2 ,3 % WITHOUT AUDIT

2. CAN HUF GIVE LOANS AND GIFTS TO MEMBERS AND OTHER LIMIT ?

CAN HUF TAKE LOANS AND GIFTS FROM MEMBERS AND OTHER LIMIT?