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Income Tax Audit u/s. 44AB

Others 383 views 3 replies

Sir,

As a Dental Professional having Professional Loss, F&O Trading Loss & Speculative Loss for F.Y. 2020-2021 which were totally adjusted against the head "Income from Other Source" (IFOS) & "Income from Capital Gain" 

After Adjusting all the business losses, Net Income from Pension, Capital Gain & Other Source exceeds the Maximum amount which is not chargeable to tax i.e. 2,50,000/-.

In such case, Tax Audit U/s. 44AB is Applicable or not ?

 

Please Guide,

Thanks & Regards

Replies (3)

Yes, applicable..                               

No tax audit will not applicable
Ok good


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