Menu
Taxability of Derivatives
I have 2Lakhs loss from derivatives, can i declare my income U/s 44AD. If yes, on which i have to declare 8%?
Replies (3)
In case you declare your income as loss u/s 44AD you have get your accounts compulsory audited.
I am ready to pay tax instead of Audit. Is there a provision under 44AD? IF yes what is the turnover that i should take
Then you need to find out the turnover of derivative. This can be ascertained by adding the difference between buy and sell of derivative contracts. In other words the profit as well as loss (In absolute or take it as a positive figure) in each contract has to be added. on that turnover pay 6% tax.
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
