Confused regarding applicability of books of accounts and audit

This query is : Resolved

Shantanu Bose (Querist)
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20 June 2025 Sir in my account,
Intraday equity trading cash (non f&o): loss 265/
Total turnover: 500/ only
STCG from share: 210000/
STCG from debt mutual fund: 25000/
LTCG from mutual fund: 97000/
Savings account interest income: 45000/
Commissions: 3700/ only (YDS deducted u/s 194H)
Since total income above basic exemption limit of 250000/ and loss in intraday equity,I can't opt 44AD as commission is there.

So,books of accounts and audit mandatory for me?
Please help as I'm confused and worried a bit too,
Thanks

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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20 June 2025 Declare Commission income under Schedule OS. No books of account mandatory by opting sec. 44AD.

Shantanu Bose

Shantanu Bose (Querist)
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20 June 2025 Thanks sir but don't you think that defective return notice may come if commission although miniscule,is declared under OS since TDS has been deducted u/s 194H ?
Thank you

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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20 June 2025 No. Such provisions are allowed. Only thing is change entry in the Schedule TDS 2; as its source from 'BP' to 'OS'.

Shantanu Bose

Shantanu Bose (Querist)
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21 June 2025 Thanks sir for helping me out

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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21 June 2025 You are welcome.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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27 September 2025 Good luck..