Taxation from Income from Multiple Sources

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A person has source of Income from the following:

  1. Future & Option Trading
  2. Intraday
  3. ST & LT Capital Gain
  4. Providing Services

Person doesn't want to select 44AD for Future & Option and 44ADA for Services, Instead he wants to present normal business & profession ITR with balance sheet. So, in this case is there any criteria that how much profit should be there so that Tax Audit don't get applicable?

Replies (2)

- FnO Turnover is 45 Lakhs

- Service Receipts is 6 Lakhs

1. For services 50%

2. For F&O if sec. 44AB(e) not applicable, then no limit.

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