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Option Trading us 44 AD
I have a client who has an income of insurance commission but also has done some option trading on the side.Now as his income cannot be reported under 44 AD,is it possible to show as insurance commission under books maintained case and Option trading under 44AD,as he doesnt want to get audited for the loss in options.Please help out experts.
Replies (6)
Quick Summary
Yes. It can be done . Show the commission under profession and options under business and declare 8/6% of profit on turnover
Yes you can do so. Show option trading under 44AD and commission in other business.
Alternatively you declare insurance commission under other sources if not of substantial amount
Alternatively you declare insurance commission under other sources if not of substantial amount
The commission is around 6 lacs and every year we bring down the commision to 38% of the original amount,can expenses be claimed under other sources?
Yes you can do so..........
Thank you Reddy sir amd Rashmi Ma'am
Welcome...... Dear..............
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