18 June 2016
My one of the client is dealing in Trading of Shares--- Is 44AD Applicable to such business? Further what is the calculation of Turnover in case of Futures and Options Trading?Please provide any illustration for the same. Also Provide Provisions related to set off and carryforward of Losses in case F & O is treated as normal business Income.
19 June 2016
Dear Anonymous,
yes your client is hit by provisions of 44AD. for calculation of turnover of f&o, take the net value as told by Amol Joglekar Sir