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Section 44ad

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 July 2015 Dear Sir,

One of our client is dealing in business of shares having intraday share trading of approx. 7 lacs rs.

Profit on this is rs. 12500 only

so now Section 44AD applies or not ?


can we treat the same as short term profit under the head capital gain ?

What impacts will be there , please guide.

Thanking you in advance .
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
04 July 2015 whether audit applies or not depends on satisfaction of condition under section 44AD(5). please read that...no it is not StCG
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Querist : Anonymous

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Querist : Anonymous (Querist)
04 July 2015 Other interest income is 10 lac. so he will be covered , right ?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
04 July 2015 yes. he will be covered under audit....
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