Income tax Sec applicability & Submission of ITR

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  1. SWAPAN KUMAR

    SWAPAN KUMAR New Member

    Please let me know,
    1) Whether Sec 44AD is compulsorily applicable to Future & Option Traders , If He Incurred losses in Non speculative business in FY 2015-16 ?
    2) Can Non speculative business in FY 2015-16 Losses can be set off against Bank Interest Income in Same FY? Can Non speculative business in FY 2015-16 Losses can be set off against speculative business in FY 2015-16 Profit in Same FY.
    3) Can Equity & FNO Traders in FY 2015-16 can treat his Profit / Losses as Buisness Income ?
    4) Whether Books of Accounts are compulsorily required to be Audited & What Will be Last Date of Return in that case?
     
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