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section 44AD

174 views 2 replies

Pankaj Singhal

98 Points Joined December 2012

I want to know about the tax calculation under section 44AD.

Can an individual doing currency derivatives trading can claim under 44AD.

If yes, what would be the turnover...how the taxable income will arrive.

Please explain with an dummy example.

thanks.

Replies (2)

Vasu Goyal

61 Points Joined October 2017

no restriction on opting for 44ad for him

sum of profit and losses from each transaction constitutes turnover

if u earned 10 lac in one transaction and u lost 7lac in another...then ur turnover is 17 lacs and profit is 3 lacs