Section 44 ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 September 2012
Dear Experts,
Is the trading of shares/stocks/stock & index futures by an individual/HUF in is own name is covered under section 44AD and is the audit necessary if the profit is less than mandated 8%.
Is the trading of shares/stocks/stock & index futures by an individual/HUF in is own name is covered under section 44AD and is the audit necessary if the profit is less than mandated 8%.
Amol S Joglekar
(Expert)
20 September 2012
If it is a business, then it falls under eligible business. It is very difficult to conclude that an individual is doing the business of share trading. And if he/she is doing so, it will be hit by 44AD.
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