banner_ad

Profit and loss in case of 2 businesses

Tax queries 318 views 7 replies

Hello,

One of my client has income from 1 business( Loss from F&O Trading) and 1 profession.

For profession he is opting presumptive taxation u/s 44ADA.

So can i fill normal profit and loss account for business and No account case for income u/s 44ADA?

or i have to fill only profit and loss account for both business and profession?

Please guide me.

Thank You.

Replies (7)

"Can i fill normal profit and loss account for business and No account case for income u/s 44ADA?"

YES.
 

Thank you Sir.

you would most probably end up getting a 139(9) notice. So tread cautiously

we have already received notice u/s 139(9).

so now we don't know how to handle this thing. 

i have uploaded updated X M L with P&L account and No account case.

ill update here once i received any reply from deptt.

Your boss doesn't know how to file the return?

Hello All,

I have received intimation u/s 143(1) and deptt has aproved refund.

Thanks for your help...

It proves that CPC has accepted normal P&L account declaration of F&O business with 44ADA declaration for professional income.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details