I would like to know about the tax audit applicability in my case. ... Since the transaction value is ₹7 lakh, a minimum of ₹42,000 needs to be declared as profits under Section 44AD, ...

Futures and Options (F&O) trading income is treated as non-speculative business income under Indian tax laws. Here’s how it ...

Please let me know whether tax audit u/s. 44AB read with section 44AD is applicable for A.Y. 2021-22, for claiming loss from futures & options (derivatives) business of ₹1 lakh on turnover of ...

Under Presumptive income tax limit, they have given a range, now between this range, the tax audit applicable. 5. The 44AD limit has been raised for business from 2 crore to 3 crore, ...

Who needs to file a tax audit report? If the turnover, sales or gross receipts of a business are over Rs 2 crore in a financial year, the owner of the enterprise needs to file an audit report. The ...

Section 44AD. This section is designed to give small business, resident individuals, resident Hindu Undivided family (HUF) and resident partnership firm taxpayers some relief. The taxpayers opting for ...