This discussion clarifies tax implications for income under Section 44AD, including business profits and losses from share trading (STCG) and intraday trading. It confirms that a tax audit is not applicable in this scenario, and advises filing Income Tax Return (ITR) Form 3.
30 April 2021
44 AD Business profit 256458/- Share loss STCG(-2576) Interd Intreday loss(-15061) Intreday turnover 39989/- Intreday gross profit 67514/- Total loss(-25546)