If a person has Business Turnover of Rs 44 Lacs showing profit u/s 44AD Rs 5 Lacs
He suffered a loss of Rs. 6,000/- in Option Trading. Option Turnover is 2 Lacs
Whether he can club both the turnover and show in Sec 44AD.
(44Lacs + 2 Lacs)
Please Guide
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Option Loss
Replies (4)
Inter head set off is possible but clubbing can't be done.
Loss should be Audited .
Loss from Option trading comes under normal business.
Loss should be Audited .
Loss from Option trading comes under normal business.
But the turnover is only 2 Lacs from Option
Loss must be audited irrespective of turnover
Generally there is no audit of any losses in particular. It's audit of financial position of the concern.
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