Intraday trading taxability
This query is : Resolved
20 July 2020
If an Individual is trading in share as Intraday trading than can his income be taxed under 44AD?Intraday trading is only business he did during the year.please suggest.
23 July 2020
Yes.Eligible for 44AD
23 July 2020
But you need to calculate turnover
23 July 2020
Profit + Loss
19 December 2021
Turnover in the case of Intraday Trading is Absolute Turnover.
Absolute Turnover is the Sum total of absolute profits minus losses made on daily transactions.
Eligible for sec. 44AD of IT act. Declare minimum of 6% of turnover as profit from Intraday, even if the trader has loss in actual.
Absolute Turnover is the Sum total of absolute profits minus losses made on daily transactions.
Eligible for sec. 44AD of IT act. Declare minimum of 6% of turnover as profit from Intraday, even if the trader has loss in actual.
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