If my profit from equity intraday trading is 1.5L and my turnover is 2.5L…and if I want to use section 44AD for presumptive taxation then what should be my speculative business income in ITR.It should be 6% of 2.5L or 1.5L actual profit…Plz guide
If my profit from equity intraday trading is 1.5L and my turnover is 2.5L…and if I want to use section 44AD for presumptive taxation then what should be my speculative business income in ITR.It should be 6% of 2.5L or 1.5L actual profit…Plz guide
Hey @Ddhar,
According to section 44AD, if your business turnover is below ₹3Cr, you can opt for the presumptive taxation scheme. You need to report 6% of the turnover or actual profits, whichever is higher, as your income.
Hope this helps!