New section 44AD of IT ACT
This query is : Resolved
Shankar Rao
(Querist)
21 June 2011
Dear all
whether Speculative Business Oovered Under new 44AD kindly let me Know
Thanks in Advance
whether Speculative Business Oovered Under new 44AD kindly let me Know
Thanks in Advance
Aditya Maheshwari
(Expert)
21 June 2011
It is not applicable to speculative activities and applicable for retail traders only.
Shankar Rao
(Querist)
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
(Expert)
22 June 2011
Since speculation trading is either profit or loss only section 44AD will not be applicable.
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