Kindly address my below query.
I have been paying tax u/s 44ADA -presumptive basis for the income generated from my profession for last 2 yrs. This year I started trading in F&O.
1)Can I continue showing income from my profession u/s 44ADA (presumptive basis) & income from F&O business under income from business(non presumptive basis) by maintaining Books of accounts, and Audit if required.
2)If I have a loss in F&O can I offset it against Income from my profession (profession income filed u/s 44 ADA)
3)Can I show income from my profession u/s 44ADA & income from F&O business under 44AD -presumptive basis?
Jan. 31, 2018