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.
"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.
CAclubindia
