New section 44AD of IT ACT

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Shankar Rao

Shankar Rao (Querist)
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21 June 2011 Dear all
whether Speculative Business Oovered Under new 44AD kindly let me Know

Thanks in Advance

Aditya Maheshwari

Aditya Maheshwari (Expert)
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21 June 2011 It is not applicable to speculative activities and applicable for retail traders only.

Shankar Rao

Shankar Rao (Querist)
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22 June 2011 Sir Mr Adity maheshwari New 44AD applys to any business except the business of plying ,hiring, or leasing goods carriages referred to in sec 44AE but you are saying that it applies to retail traders only please confirm

Aditya Maheshwari

Aditya Maheshwari (Expert)
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22 June 2011 Since speculation trading is either profit or loss only section 44AD will not be applicable.

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