Easy Office
Easy Office

Income tax audit under 44ab for losses

This query is : Resolved 
Profile Image

Profile Image

(Querist)
19 June 2023
if assessee having two business income

1) income from trading of goods
- Turnover is below 1cr
2) income from future and options - Turnover is below 1cr


* 12% profit from Trading of goods
* losses from future and options


Previously ITR filed under 44AD

Please advise me that we need to audited our books of account to claim of future & options
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
19 June 2023 Tax audit required if combined income is above taxable limit.
Profile Image

Pranali Bhandari

Profile Image

Pranali Bhandari (Querist)
19 June 2023 sorry sir can you more elabarote on this.
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
19 June 2023 Tell me the income from trading of goods and loss from f and o.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links