how we file the return of speculative business in case of salaried person?
In case if speculative business loss..tax audit is compulsory?
And also basic exemption is available for this type of business?
1 Replies
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 28 May 2020
Tax audit compulsory if you dont offer speculative turnover for profit under presumptive scheme u/s 44AD. Basic exemption limit available. Advisable to get the tax audit done on a long term basis.
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